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Unformatted text preview: discussed in chapter 2, but now speciFed in discrete form. Between time t and t + 1 the change in the population is proportional to the population size. If p t denotes the population size in period t , then p t + 1 = p t + 1 p t is proportional to p t . If k denotes the proportionality factor, then p t + 1 = kp t Or p t + 1 = (1 + k ) p t which has the analytical solution p t = (1 + k ) t p...
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 Fall '11
 Dr.Gwartney
 Economics

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