Consider a Solovian economy with the aggregate production function Yt = K1/2l1/2 . The initial size of the population is 100, and the initial capital stock is given by 9 units. The entire output produced in each period is distributed to the households as factor incomes (since households are the owners of the capital stock and labor at any time t), who consume half of their income and save the rest. All savings are automatically invested, which augments the capital stock available for production over time. Population does not grow, and there is 100% depreciation of the capital stock within one period.
The corresponding steady-state value of aggregate output is:
In the given question, three statements are given each followed by two conclusions I and II. You have to consider the statements to be true, even if th...
Statement:
Only Cricket is Kabbadi
No Kabbadi is Volleyball
Only a few Football are Vollybal...
Statements :All blues are whites.
Some whites are reds.
All yellows are reds.
Conclusions :I. Some reds are whites.
II. Some yellows are whites.
Two statements are given followed by two conclusions, numbered I and II. Assuming that the information given in the statements is true, even if it seems...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statement:
Only car are bus.
No bus is train.
Only bike are train.
Conclusion:
I. No train is car.
II. S...
Some slippers may be boots. Some socks are not rubbers. Some rubbers are not slippers
Statements:
At least Some Reds are Blue.
47% Blue are not Green.
All Greens are Orange.
Conclusions:
I). Some Blues a...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statements: All trains are buses.
All buses are cars.
All cars are bikes.
Conclusions:...
