Suppose the parameters of the Romer model take the following values:the initial stock of ideas at time zero equals 10ideas efficiency parameter equals 1/500the share of labor engaged in research is 1%the total population is 1,000What is the per capita income of this country in the first period, y1?Select one alternative:about 11.9about 1.23about 12.3about 1.19about 4.44

Which of the following is NOT an endogenous variable in the Romer model?Group of answer choicesThe number of workers engaged in researchThe fraction of the population engaged in researchThe stock of knowledgeOutput

Suppose a country’s population grows by 1% per annum, and its labour efficiency grows by 1% per annum. Then, according to the Solow model with technological progress, the steady-state growth rate of capital per effective worker is ______.a.2%b.3%c.1%d.0%

Suppose we know the multiplier of a country is 4. Assume that only consumption and investment spendings depend on the output level, the amount of taxation is exogenous, and the investment behaviour equation is known to be I = 2,000 + 0.1 Y. The marginal propensity to consume in this country is then __ Group of answer choices0.5uncertain from the information given0.750.65

Suppose the Solow model with technological progress describes the economy of Beta. Beta’s population growth is 1%, its rate of technological progress is 0.5%, its depreciation rate is 1%, and its saving rate is 4%. Thus, output per effective worker grows at a _____ rate in the steady state. a. 1% b. 0% c. 0.5% d. 1.5%

Let Government purchases and taxes be 500 and 400 respectively ,investment is 200 ,and the spontaneous portion of consumption is 100 , marginal consumption trend is 0.9 ,which is the value of Y?A.4400B.3800C.4000D.4200