Question 1

Discuss (i) the relative strengths of capital accumulation and technological progress in contributing to China's high growth rates during 1995- 2007; and (ii) the two main channels of technological progress in China.

Accepted Answer

The answer of Discuss (i) the relative strengths of capital...

Question 2

Explain what factors determine how much investment is required to maintain a given level of capital per effective worker.

Accepted Answer

The answer of Explain what factors determine how much investment...

Question 3

Explain the different dimensions of technological progress.

Accepted Answer

The answer of Explain the different dimensions of technological progress....

Question 4

Assume the economy has achieved the balanced growth steady state. Explain what factors determine the rates of growth of each of the following variables when balanced growth is achieved: output per effective worker, capital per effective worker, output per worker, output, and consumption per worker.

Accepted Answer

The answer of Assume the economy has achieved the balanced...

Question 5

Explain what factors determine the slope of the required investment line.

Accepted Answer

The answer of Explain what factors determine the slope of...

Question 6

Graphically illustrate and explain the effects of an increase in the rate of technological progress on the Solow- Swan growth model. In your answer, you must clearly label all curves and the initial and final equilibria. In your answer, explain what happens to the rate of growth of output per worker and the rate of growth of output as the economy adjusts to this event.

Accepted Answer

The answer of Graphically illustrate and explain the effects of...

Quiz 12: Technological Progress and Growth

Discuss (i) the relative strengths of capital accumulation and technological progress in contributing to China's high growth rates during 1995- 2007; and (ii) the two main channels of technological progress in China.

Explain what factors determine how much investment is required to maintain a given level of capital per effective worker.

Explain the different dimensions of technological progress.

Assume the economy has achieved the balanced growth steady state. Explain what factors determine the rates of growth of each of the following variables when balanced growth is achieved: output per effective worker, capital per effective worker, output per worker, output, and consumption per worker.

Explain what factors determine the slope of the required investment line.