We know that a country reaches a steady state when investment equals depreciation. This means Y=K
Consider an economy with the production function
Y=A√ K
Squaring both sides and solving for K yields
K=Y^2/A^2
Substituting K into the steady state equation gives
Y=Y^2/A^2
Solve this equation for Y. Divide both sides by Y and put everything on the other side to solve for Y. Once you do this, use this equation to answer the question about the economy in the steady state.
What will make a country richer in the long run?
i. Both changes will have the same impact on the steady state GDP.
ii. Doubling the saving rate
iii. Neither will make the country richer in the long run.
iv. Doubling total factor productivity

Costs of production that do not change when output changes. question 17 options: total revenuefixed incometotal costfixed cost

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f

The amberssen specialty company is a chain of twelve retail stores that sell a variety of imported gift items, gourmet chocolates, cheeses, and wines in the toronto area. amberssen has an is staff of three people who have created a simple but effective information system of networked point-of-sale registers at the stores and a centralized accounting system at the company head- quarters. harry hilman, the head of amberssens is group, has just received the following memo from bill amberssen, sales director (and son of amberssen’s founder). harry—it’s time amberssen specialty launched itself on the internet. many of our competitors are already there, selling to customers without the expense of a retail storefront, and we should be there too. i project that we could double or triple our annual revenues by selling our products on the internet. i’d like to have this ready by - giving, in time for the prime holiday gift-shopping season. bill after pondering this memo for several days, harry scheduled a meeting with bill so that he could clarify bill’s vision of this venture. using the standard con- tent of a system request as your guide, prepare a list of questions that harry needs to have answered about this project.