Quiz #1 (answer key)
ECNS 303
Name_
1.) Exogenous vs. Endogenous Variables (6 points)
Alex is an avid mountain biker and maximizes his utility by taking mountain biking excursions
in the Bridger Mountains. More specifically, his utility is a function of a
Quiz #5
ECNS 303
October 9, 2012
Name_
1.) Endogenous Growth Theory (10 points total)
Assume we have an economy where output can be described by the simple production function:
Y = AK
where Y is output, K is capital stock, and A is our technology paramete
Quiz #4
ECNS 303
October 2, 2012
Name_
1.) Technological progress in the Solow growth model (10 points)
Suppose an economy has the following production function:
y = (k)1/2
a.) Solve for the steady-state value of k as a function of s, n, g, and . (5 point
Quiz #3 (answer key)
ECNS 303
September 27, 2012
Name_
1.) Steady state level of capital (20 points total)
Suppose output in the economy is described by the following Cobb-Douglas production function:
Y = K1/2L1/2
Also, suppose that 40% of output is saved
Quiz #2 (answer key)
ECNS 303
September 18, 2012
Name_
1.) Consumption and investment per worker (10 points total)
Show distances on the graph that represent i.) output per worker, ii.) investment per worker and
iii.) consumption per worker.
Output per wo