Exercise 6Consider the Solow model with ????=????K????????1−???? as defined in the slides.
1- If TFP increases by 6% whilst both K and L decrease by 4.5%, how much does Y change by? If the share of Labour in output has increased in equilibrium, what do you know must have happened to ?????
2- Consider an equilibrium path (=steady state path) in which TFP growth per year is 1% whilst population growth is 2% per year. Is it then true (or not) that capital per labour decreases over time? Is it true or not that capital-per-labour grows more quickly if the share of capital in output is higher?

Answers

Answer 1
Answer:

1- If TFP increases by 6% whilst both K and L decrease by 4.5%, the output Y will increase by 1.35%. As the share of Labour in output has increased in equilibrium, the share of Capital in output must have decreased.

What is Labour?

Labour is the work done by people to produce goods or services. It is the main component of an economy and is essential for the production of goods and services. Labour includes all physical and mental work, including the work done in factories, offices, and homes. Labour also involves activities related to the production of goods and services, such as research and development, marketing, and management.

2- It is true that capital per labour decreases over time if TFP growth per year is 1% and population growth is 2% per year. It is also true that capital-per-labour grows more quickly if the share of capital in output is higher. This is because, with a higher share of capital in output, a given increase in capital stock has a higher impact on output, which in turn leads to a higher capital-per-labour ratio.

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What is a contextual symbol?What is a contextual symbol?
A.
a symbol that helps make a novel’s characters believable
B.
a symbol that appears in many different genres of literature
C.
a symbol that is known to many people across generations
D.
a symbol that appears specifically in a particular work of writing

Answers

Answer:

your answer is D. a symbol that appears specifically in a particular work of writing

Answer:

your answer is D i took the test

Explanation:

How do the Elastic Clause, the Necessary and Proper Clause, and the Supremacy Clause, potentially challenge the power of the States?

Answers

Answer:

The Elastic Clause, also known as the Necessary and Proper Clause, and the Supremacy Clause are all provisions within the United States Constitution that have the potential to challenge the power of the states. The Elastic Clause, found in Article I, Section 8, grants Congress the power to make all laws necessary and proper for carrying out its enumerated powers. This clause has been interpreted broadly by the courts, allowing Congress to expand its authority beyond what is explicitly stated in the Constitution. As a result, it can potentially encroach on areas traditionally reserved for state governments, such as education, healthcare, and criminal justice.

The Necessary and Proper Clause is closely related to the Elastic Clause and gives Congress the authority to enact laws that are necessary and proper for executing its enumerated powers. This clause has been used to justify federal laws that may impinge on state powers, as long as they are deemed essential for carrying out federal responsibilities. For example, Congress has relied on this clause to establish agencies like the Environmental Protection Agency (EPA) and pass legislation regulating interstate commerce.

The Supremacy Clause, found in Article VI of the Constitution, establishes that the Constitution, federal laws, and treaties are the supreme law of the land. This means that if there is a conflict between federal and state law, federal law prevails. The Supremacy Clause can challenge state power by limiting their ability to pass laws that contradict or undermine federal legislation. It ensures uniformity in areas where federal authority is exercised.

Overall, these clauses can challenge the power of states by granting expansive authority to Congress and establishing federal law as supreme over state law. They provide a legal framework for the federal government to assert control over certain policy areas traditionally within state jurisdiction. However, it is important to note that these clauses have been subject to interpretation by courts over time, and their impact on state power can vary depending on specific cases and circumstances.

Explanation:

All of the following are true statements about the United States Supreme Court except:a. Nine justices serve on the Court.
b. Once confirmed, a justice serves an eight-year term.
c. The Supreme Court is the highest court in the federal court system.
d. The Supreme Court has limited original jurisdiction.

Answers

b. Once confirmed, a justice serves an eight-year term. is false

Final answer:

All statements about the Supreme Court are true except the one stating that justices serve an eight-year term. Once confirmed, justices serve for life, unless they resign, retire, or are removed.

Explanation:

The subject of this question is the United States Supreme Court. Regarding the provided statements, all are true about the Supreme Court except for option b. Nine justices do indeed serve on the Court (option a), and the Supreme Court is, indeed, the highest court in the federal court system (option c). The Supreme Court also has limited original jurisdiction (option d). However, once confirmed, a justice serves for life, not an eight-year term (option b), unless they resign, retire, or are removed after impeachment.

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What are the huge lakes in the northeast USA called

Answers

 the great lakes of the usa
the great lakes of america

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Answers

Steve has the tendency to postpone his work and is least stressed about meeting deadlines. As a result, it becomes problematic for his team to complete a project on time. Steve best exemplifies a(n)absentee member.

What process did Columbus and his followers begin?

Answers

Colombus and his followers began the process of the Exploration of Americas

Columbus was an italian explorer who completed four voyage across the Atlantic Ocean. He and his followers discover the Existence of America in 1492 during these voyages
Columbus and his followers brought upon many processes. One of which was the exploration of both the South and the North part of America and their subsequent besettlement of both. Another thing was slow and gradual genocide that was brought upon to both Americas again by the conquistadors, who conquered this region in God's name.