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Consider an economy with 2 sectors and fixed population. Draw a well labeled graph showing the point of initial equilibrium for the scenario below: i.
Consider an economy with 2 sectors and fixed population.
Draw a well labeled graph showing the point of initial equilibrium for the scenario below:
i. Starting with an initial equilibrium/allocation of workers, show the impact of differential technological progress (specifically, sector 1 experiencing a higher technological progress compared to sector 2) on the allocation of workers across the sectors.
Draw a well labeled graph showing the point of initial equilibrium for the scenario below:
i. Starting with an initial equilibrium/allocation of workers, show the impact of differential technological progress (specifically, sector 1 experiencing a higher technological progress compared to sector 2) on the allocation of workers across the sectors.
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Modeling Monetary Economies
Authors: Bruce Champ, Scott Freeman, Joseph Haslag
4th Edition
1316508671, 1316508676, 9781316723302 , 978-1107145221
