ProblemSet-4-Fall2020.pdf - Econ 100B Economic Analysis...

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Econ 100B: Economic Analysis – Macroeconomics Problem Set #4 Due Date: October 2, 2020 General Instructions: Please upload a PDF of your problem set to Gradescope by 11:00 pm. Late homework will not be accepted . Please put your name and student ID at the upper right corner of the front page. 1. The current population of the United States is 328.2 million with 2.2% of the population is engaged in R&D at an efficiency rate of 1/500 per million persons per year. (a) If R&D is the only source of total-factor productivity growth what is the growth rate of labor efficiency in the United States? (b) If the growth rate of total factor productivity is 0.75% per year, what is the value of α in the Cobb-Douglas production function? 2. Listen to Prof. Lisa Cook’s Planet Money Interview to address the following: (a) How is the research of Prof. Lisa Cook’s and Prof. Paul Romer related? (b) Briefly discuss the relationship between the Tulsa race massacre and the variables

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