QUIZ 4 - ECO 407 Macroeconomic Theory Name:_ QUIZ 4 Part I...

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ECO 407 Macroeconomic Theory Name:__________________ QUIZ 4 Part I [45 points] 1. How does the national income identity show up in our production model? _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ ____________________________________________________________________________________________ 2. Consider the following production function 0.25 0.75 YA KL = . What is the level of output per person? According to your derivation what makes a country rich or poor? _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ ____________________________________________________________________________________________
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This note was uploaded on 04/07/2008 for the course PHI 407 taught by Professor Monterio during the Spring '08 term at Punjab Engineering College.

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QUIZ 4 - ECO 407 Macroeconomic Theory Name:_ QUIZ 4 Part I...

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