Suppose we modify the Solow model by allowing long-run technological progress. That is, suppose that z = 1 and that there is labor-augmented technological progress, AN:
Y = K^?*(AN)^(1??)
where Y is output, K is capital, A is the efficiency of labor and N is labor, so that AN measures the effective number of workers. That is, output Y depends not only on the number of workers, N, but also on how effective they are L. Assume that 0
Further, suppose that labor and the efficiency of labor (i.e., technology) grow at constant rates n and g, respectively. That is, N'/N = 1 + n and A'/A = 1 + g. Also, assume that capital depreciates at rate d and that gross investment in capital is a fraction s of output.
(a) Letting k ? K/AN , obtain the law of motion for capital accumulation per unit of effective number of workers, k.
(b) Solve for the equations characterizing the steady-state values and determine the steady-state values of capital, k, output, y, investment, i, and consumption, c, all per unit of effective number of workers. Determine what the growth rates of aggregate output, Y , capital, K, investment, I and consumption, C are.
(c) What is the effect of an increase in investment rate of capital, s on aggregate capital, output and consumption, both in the short-run (before the ?nal steady-state) and the long-run (after the ?nal steady-state)?
(d) What is the effect of an increase in the efficiency of labor, A on aggregate capital, output and consumption, both in the short-run (before the ?nal steady-state) and the long-run (after the ?nal steady-state)?
(e) Discuss which policy is more effective: an increase in saving rate (s) or an increase in efficiency of labor (A). Explain your answers.
24. Which statement is true? a. Solution-focused therapists help families notice "exceptions" to the problem, whereas narrative therapists help families notice "unique outcomes." b. Solution-focused therapists help families notice "unique outcomes", whereas narrative therapists help families notice "exceptions" to the problem 25. Which statement is true? a. It is always best to use an empirically- supported approach to couple therapy b. At the present time, some approaches to couple therapy have obtained much research support, but others that don't have such support may still be effective 26. Which of the following is NOT an empirically- supported treatment for teen substance abuse and/or conduct disorder? a. Multidimensional Family Therapy b. Brief Structural/ Strategic Therapy c. Multisystemic Therapy d. Bowen Intergenerational Family Therapy e. Functional Family Therapy 27. Which Statement is true? a. Qualitative research is open to biases of the researcher, whereas quantitative research is not b. Both qualitative and quantitative research may be open to biases of the researcherAce Lawn Care Module 4 Mini Practice Problem In June, Jim commented to you that he could never figure out his bank statement, "it never matches the balance in my accounting records" he tells you. So you explain that a bank reconciliation is a tool used to balance the bank statement to the accounting books. He gives you his bank statement for June, 2014 (shown below). The general ledger shows a balance for the account cash of $19,319.00 on June 30, 2014 (detail transactions below). Jim's business only has one checking account and no other cash accounts. Instructions: 1. Using the bank statement and the general ledger, prepare a bank reconciliation for Ace Lawn Care as of June 30, 2014. Record the necessary journal entries to adjust the books for the appropriate reconciling items. Start with Page 6 for the journal entries. Explanations are optional. CHECKING ACCOUNT DETAIL: DATE THANSACTION AMOUNT BALANCE TYPE & NUMBER BEGINNING $17 85010 16014 CHECK #1570 13/2014 CHECK #15TI BY/2014 EFT 64 12703 174140 616 2014 DEPOSIT #104 1 550:00 18564.00 615 2014 CHECK #1572 145 00 FLAIRDO 62153014 CHECK #157) 6102014 IN 1014 143 00 1937600 631 2014 CHECK #1574 #700 15 38909 63 2014 CHECK FISTS 45:00 15.19409 634 2014 DEPOSIT FOS 6342014 CHECK #1576 15500 194640 6:302014 CHECK $1517 148 00 31531900 BANK STATEMENT: FIRST NATIONAL BANK ACCOUNT SUMMARY JUNE MO MINT BEGINNING BALANCE $17 850 08 PAYMENTS DEPOSITS 2 440 0 FEES ENDING BALANCE PAYMENTS DATE REFERENCE AMOUNT 1571 618 2014 6/14 2014 1572 145.50 1573 625 2014 NSF 6302014 TOTAL PAYMENTS DEPOSITS DATE REFERENCE AMOUNT 6 1 1/2014 104 6212014 105 1302014 INTEREST TOTAL DEPOSITS FEES 6342014 SYCOIK TOTAL FEES Additional Information: Check #1570 was written for $266.00, bur was recorded incorrectly in the general ledger. The check was for fuel.Help Jansen Company's general ledger showed a checking account balance of $24,420 at the end of May 2021. The May 31 cash receipts of $2,400, Included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2021, showed bank service charges of $44. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $1,950. Required: Prepare a bank reconciliation as of May 31, 2021. [Hint. You will need to compute the balance that would appear on the bank statement.] Bank Reconciliation Bank Balance to Corrected Balance Balance per bank statement Corrected cash balance Book Balance to Corrected Balance Balance per books Corrected cash balance5. Prepare the following bank reconciliation Balance per bank statement, Oct. 31 $10,410 Cash balance per general ledger (books) $11,200 Deposit made on Oct 31, not found on bank statement $1,865 Outstanding checks (total) $1,252 Check error: written for $152 but recorded for $125 Bank Service Charge $50 NSF check $100 Bank Side: Book Side: 6. What is the transaction on the accounting equation to record $40 in bank service charges? Assets Liabilities EquitySP'18 ACCO 211-90 / Chapter 8 *Problem 8-5 Some of the information found on a detail inventory card for Buffalo Inc. for the first month of operations Is as follows. Received Issued, Balance, Date No. of Units Unit Cost No. of Units No. of Units January 2 1,500 $4.56 1,500 7 1,000 500 10 900 4.86 1,400 13 800 600 18 1,300 5.02 600 1,300 20 1,100 200 23 1,600 5.17 1,800 26 1,100 700 28 1,900 5.32 2,600 31 1,600 1,000 Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit From these data compute the ending inventory on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round final answers to 0 decimal places, e.g. 6,548.) (1) (2) (3) FIFO LIFO Average-cost Ending Inventory $ If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, would the amounts shown as ending inventory in (1), (2), and (3) above be the same? What amount would be shown as ending inventory? (Round average cost per unit to 4 decimal places, e.g. 2.7621 and final answers to 0 decimal places, e.g. 6,548.) (1) (2) (3) FIFO LIFO Average-cost Would amount be same Ending Inventory S Question Attempts: 0 of 3 used
