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Homework answers / question archive /   39878 Prog (bountiful Hs) - ECON 101 1

  39878 Prog (bountiful Hs) - ECON 101 1

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39878 Prog (bountiful Hs) - ECON 101

1. If the rate of unemployment is neither rising nor falling, then the number of people finding jobs must equal the number of people

2. If the rate of job finding rises, the natural rate of unemployment will

3. Suppose that 2 percent of the employed lose their jobs each month (s = 0.02) and 38 percent of the unemployed find a job each month

(f = 0.38). Then, the steady-state rate of unemployment is

4. The unemployment rate is 10 percent. The rate of job separation is 5 percent. How high does the rate of job finding have to be to keep the unemployment rate constant?

5. Unemployment insurance schemes mainly increase

6. The unemployment caused by the time that it takes to match workers and jobs is called

7. Frictional unemployment occurs because

8. Which of the following policies would reduce the amount of frictional unemployment?

9. If the government increases the amount of unemployment insurance that unemployed workers can collect, the amount of frictional unemployment would be expected to

10. When the real wage is above the level that equilibrates supply and demand, then the quantity of labor supplied

11. The unemployment resulting from wage rigidity and job rationing is called

12. A teenager is not able to find a job because the legal minimum wage is higher than the wage that firms are willing to offer.

This situation is an example of

13. Minimum-wage laws are an example of

14. Wait unemployment results when

15. Which of the following is not a cause for real wage rigidity?

16. The unemployment caused by unions and by the threat of unionization is an instance of

17. Unions may cause unemployment if

        

18. Efficiency wage theories claim that firms may pay high real wages in order to

19. Efficiency wages do not lead to

20. Which of the following statements about unemployment is true?

21. Compared to long-term unemployment, short-term unemployment is more likely to be

22. Suppose that 130 people are unemployed for part of a given year; 120 are unemployed for 1 month, 10 are unemployed throughout the year; what percentage of total months of unemployment is attributable to the long-term unemployed?

23. Measured unemployment may be lower than actual unemployment because

24. Discouraged workers who want jobs, but have stopped looking for jobs are

25 Many economists believe that the rise in European unemployment is caused by

    

 

1. The Solow growth model assumes that the production function exhibits

2. Which of the following is not assumed by the Solow growth model?

3.  In the Solow model, the depreciation rate represents the

4. The change in the capital stock is equal to

5. Suppose that the capital stock is 100, the depreciation rate is  10 percent per year, and output is 25. What must the saving rate be to keep the capital stock constant?

6 If the capital stock is above the steady-state level, then investment

7. If an economy is initially in a steady state and it experiences an increase in its saving rate, then the steady-state capital stock will

8 Suppose that output per worker is 10, the production function is y = sqrt(k)  [that is, output per worker is equal to the square root of capital per worker] and the total capital stock is 1,000. How large is the labor force?

9 Suppose that the production function is y = sqrt(k) [that is, output per worker is equal to the square root of capital per worker], s = 0.40, and delta [the depreciation rate] = 0.10.  What is the steady-state level of capital?

10 Suppose that the production function is y = sqrt(k) [that is, output per worker is equal to the square root of capital per worker], s = 0.40, and delta [the depreciation rate] = 0.10.  What level saving will lead to the highest possible level of output in the steady state?

11 A war has wrecked the economy of Baloneya: both the capital stock and the work force have been reduced by 50 percent. If the economy's production function has constant returns to scale, how will the postwar  level of output per worker compare to the prewar level?

12 In the steady state of the Solow growth model, the saving rate does not determine

13 The Golden Rule level of capital accumulation is defined as the level of the capital stock that achieves a steady state with the

14 At the Golden Rule level of capital accumulation, the marginal product of capital equals the

15  Suppose that an economy is in steady state and has more capital than it would have in the Golden Rule steady state. A policymaker would want to pursue policies aimed at decreasing

16 An economy starts off in a steady state with less capital than at the Golden Rule level. Now the saving rate changes to the level that will achieve the Golden Rule.  What is the path of consumption during the transition to the Golden Rule steady state?

17 An economy is in a steady state with capital higher than the Golden Rule level.  Now the saving rate falls to a level that will achieve the Golden Rule capital stock in the long run.  What will happen to the level of consumption between the initial and new steady states?

18 If two economies are identical except for their rates of population growth, then the economy with the higher rate of population growth will have

19 If two economies are identical except for their rates of population growth, then if both economies are in steady state, the economy with the higher rate of population growth will have a

20 In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per efficiency unit is

21 In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per worker is

22 In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of total output is

23 A permanent change in the growth rate of total output can arise from a change in the

24 The marginal product of capital (MPK) is 1/3; the marginal product of labor (MPL) is 3. Capital is increased by 30; the labor force is increased by 10. How much does output increase?

25 Suppose that the production function is Y = AF(K,L).  The (unchanging) share of capital in output is 0.5. Suppose that output increases by 4 percent, the labor force increases by 3 percent, and the capital stock increases by 2 percent. What is the Solow residual in this case?

 

 

1. In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per efficiency unit is

2. In the Solow growth model with population growth (n) and technological progress (g), the steady-state growth rate of output per worker is

3. In the Solow growth model with population growth (n) and technological Progress (g), the steady-state growth rate of total output is

4. A permanent change in the growth rate of total output can arise from a change in the

5. In the Solow growth model with population growth and technological progress, the economy

experiences a 5 percent "labor-augmenting technological progress" if:

6. In the Solow growth model with population growth of 5 percent and a labor augmenting technological progress of 3 percent, the economy's:

7. In the Solow model with technological progress, an increase in the rate of technological change will:

8. In a Solow model with population growth and technological progress, the steady state level of consumption is maximized when the steady state marginal product of capital equals the rate of depreciation plus

9. In the Solow growth model, the steady state level of income per person in a country is a function of all the following EXCEPT:

10. Using the framework of the Solow growth model, the U.S. level of capital is presently

11. All of the following are possible explanations for the worldwide slowdown in economic growth during the 70'sand 80's EXCEPT

12. In the basic endogenous growth model, the production function exhibits

13. In the basic endogenous growth model, usually called the Y=AK model, as long as the savings rate times the constant A is greater the rate of depreciation, income will grow

14. In the Solow model, savings leads to _______ growth, but in the Y=AK model, savings can lead to _______ growth.

15. Advocates of the Y=AK model interpret capital as

16. In the two sector model presented in Section 8-4, where the sectors consist of manufacturing firms andresearch universities,

17. In the two sector model, the proportion of labor devoted to research universities determines the

18. In most endogenous growth theories, externalities from firms' research play a crucial role. Economists agreethat research

19. The marginal product of capital (MPK) is 1/3; the marginal product of labor (MPL) is 3. Capital is increased by30; the labor force is increased by 10. How much does output increase?

20. Suppose that the production function is Y = AF(K,L). The (unchanging) share of capital in output is 0.5. Suppose that output increases by 4 percent, the labor force increases by 3 percent, and the capital stock increases by 2percent. What is the Solow residual in this case?

21. Real-business-cycle theorists believe that fluctuations in output and employment are:

22. In a recession, firms may keep workers they do not need, so they will have these workers when the recession is over. This is called:

23. Which of the following is NOT an explanation for variations in the Solow residual?

 

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