2010_Econ%20110A%20blanchard%204e%20Ch%2012%20HomeworkQuestions

2010_Econ%20110A%20blanchard%204e%20Ch%2012%20HomeworkQuestions

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Econ 110A Ch 12 Homework Questions Please, do not use a calculator or any other devices such as cell phones or computers. 1. A reason that the poor countries have been unable to close the "technology gap" with the rich countries is A. poorly established property rights. B. lack of capital. C. low population growth rate. D. aging of the population. 2. Patent protection is important in affecting technological progress because it makes research and development A. diffuse more quickly. B. more easily available. C. more appropriable. 3. Assume the production function is represented by Y = f(K, NA). If A increases by 5%, which of the following variables will also increase by 5%? A. output. B. effective labor. C. labor. For questions 4-6, assume that the aggregate production function is Y = F(K, AN), the rate of depreciation is 6% per year, the population growth rate is 3% per year, and the growth rate of technology is 4% per year. 4. The annual growth rate of "effective labor" in the steady state is ____ %.
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This note was uploaded on 09/29/2010 for the course ECON 110A taught by Professor Laboskey during the Summer '08 term at Alabama.

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2010_Econ%20110A%20blanchard%204e%20Ch%2012%20HomeworkQuestions

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