$53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. How much is in the account after four years? Round your answer to the nearest whole number.
Although institutions are often associated with a physical representative (like the Supreme Court building), the essence of an institution is a set of expectations and
Two countries agree to lower import tariffs on selected goods. (international trade)A country loosens its restrictions on foreign-based land ownership. (flow of funds across national borders)A nation permits private firms to compete with the state-owned mail service. (competitive markets)
Apply the correct label to each level of capital investment on the aggregate production function to illustrate one of the important implications of the Solow model.
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K1: highest marginal product;K2: first sign of diminishing returnsK3: economy approaching steady state
Assuming the blue production function (F1) is the initial state of a country”s economy, click on the production function after a surge in the nation”s technology sector, for instance, due to government funding.
At one time, diplomats in New York could not be punished in any way for parking violations. Two sociologists studied violation patterns and concluded that diplomats from some nations got tickets far more often than diplomats from other nations.Which nations” diplomats frequently committed parking violations? Which nations” diplomats committed very few?
The production function F2 can be represented in equation form by Y = A × F(natural resources, human capital, physical capital).For any nonzero level of capital inputs (K), the output from F2 is more than the output for F1.
national highway system (physical capital)tourist-friendly coastal waters (natural resources)workers skilled at various handicrafts (human capital)
an assembly line control system (technology)a worker who has been trained to service an electron microscope (human capital)a method of extracting drinkable water from the ocean (technology)a factory team that together builds smartphones (human capital)