1) In the steady state of the Solow model with technological progress, which of the following variables is not constant ?

1) In the steady state of the Solow model with technological progress, which of the following variables is not constant?

(a) capital per effective worker

(b) the real rental price of capital

(c) the real wage

(d) the capital-output ratio

2) The U.S. economy has more/less capital than at the Golden Rule steady state, suggesting that it may be desirable to

increase/decrease the rate of saving.

3) The purpose of  exogenous/endogenous growth theory is to explain technological progress. Some of these models do so by questioning the Solow model’s assumption of increasing/diminishing/constant returns to capital.

4) Models of Schumpeterian creative destruction aim to explain:

(a) how old capital is best retired and replaced with new capital.

(b) why seeming technological progress can reduce average incomes.

(c) how entrepreneurs with new products displace incumbent producers.

(d) why economies grow quickly after suffering the ravages of war.

Show more







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10