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 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. A ssume 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%? 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 ____ %. 5. The level of investment needed to maintain a constant capital stock (K) is
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