Question
In August 2019, Hurricane Dorian wreaked havoc throughout the Carribbean. Dorian was most powerful tropic hurricane on record to strike the Bahamas, and is registered
In August 2019, Hurricane Dorian wreaked havoc throughout the Carribbean. Dorian was most powerful tropic hurricane on record to strike the Bahamas, and is registered as the worst natural disaster in the country's history. Estimates suggest the total damage could cost almost 3 billion dollars. use the one-period closed-economy macro model to understand the economic effects of this loss in capital. In other words, imagine a decrease in K, for each of following questions, state how each variable could change, if at all, and provide a brief discussion explain your answer:
1.output
2.marginal product of labour
3.real wage
4.consumption
5.leisure
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