Business, 08.03.2021 19:30 rachel2005smith
Technology transfer in the Solow model â one explanation for Chinaâs rapid economic growth during the past several decades is its expansion of policies that encourage "technology transfer". By this, we mean policies- such as opening up to international trade and attracting multinational corporation through various incentives- that encourage use and adoption in china of new ideas and new technologies. The question asks you to use the Solow model to study this scenario. Suppose China begins in steady state. To keep the problem simple, letâs assume the sole result of these technology transfer policies is to increase A by a large and permanent amount, one time. Answer the following questions:
a. Analyze this change using a Solow diagram. What happens to the econ- omy over time?
b. Draw a graph showing what happens to output in China over time. What happens to output per person in China in the long run?
c. Draw a graph showing what happens to the growth rate of output in China over time. Explain.
d. Discuss in a couple of sentences what your results imply about the effect of technology transfer on economic growth.
Answers: 3
Business, 22.06.2019 06:30
If a team of three workers, each making the u.s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.
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Business, 22.06.2019 07:30
Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]
Answers: 3
Business, 22.06.2019 23:40
8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut.for should be given.which businesses should cut hair? check all that apply.firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply.bobchoseanyvettethe maximum possible total surplus is
Answers: 3
Technology transfer in the Solow model â one explanation for Chinaâs rapid economic growth during th...
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