Question
Yes/no + why? a. Everything else constant we record the amount of output a certain number of machines produce in one hour. With 2 machines
Yes/no + why?
a. Everything else constant we record the amount of output a certain number of machines produce in one hour. With 2 machines we produce 10 bikes. With 3 machines we produce 18 bikes. With 4 machines we produce 24 bikes. The marginal product of capital is therefore increasing
b. In the Solow growth model having a higher savings rate means that the growth rate of the economy is higher in the steady state.
c. If an Asian private company wants to make a stable coin against the Dollar, it does not need to hold foreign exchange reserves as it is not a Central Bank
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started