(ECON112)[2010](f)final~2390^_10022 - 1 The Hong Kong...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1 The Hong Kong University of Science and Technology ECON 112 (L1, L2) Macroeconomics Final (Fall 2010) * *Solution and marking scheme** Instructor: Prof. Li, Yao Amber TA: Fok Pik Lin, Astor December 14, 2010 Part II SHORT ANSWER QUESTIONS (55/100 marks) INSTRUCTION: 1. PLEASE PUT YOUR NAME, STUDENT NUMBER AND SECTION NUMBER IN THE SPACE BELOW. 2. PLEASE ENTER YOUR ANSWERS IN THE INDICATED BLANKS . 3. YOU NEED TO WRITE DOWN NECESSARY STEPS TO DERIVE RESULTS. 4. THERE ARE 12 PAGES IN PART II. STUDENT NAME STUDENT NUMBER SECTION NUMBER 2 General reminder: when you draw diagrams, remember to label the axes. Question 1: Long Run Growth Model (17 marks) Consider an artificial economy, the Republic of Solowakia, which has the following production function: Y t = A t K t α N t (1-α) where α<1. Assume for now that A t is constant over time (there is no technological progress in this economy, so A t =A), n is the growth rate of N and n>0 , δ is the rate of depreciation in this economy, and s is the saving rate....
View Full Document

Page1 / 12

(ECON112)[2010](f)final~2390^_10022 - 1 The Hong Kong...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online