代写增长经济学-ECON 0028代写-Economics of Growth代写

ECON 0028: The Economics of Growth Term 2 (Spring 2022)

ASSIGNMENT 3

代写增长经济学 Assume that the minimum wage represents what a worker would receive if he or she had no human capital from education.

1.In the United States, the average hourly earnings of production workers in 2007 were $17.45 per hour. 代写增长经济学

The national minimum wage was $5.85 per hour. Assume that the minimum wage represents what a worker would receive if he or she had no human capital from education. Using these data, calculate the share of wages that represents payments to human capital and the share that represents payments to raw labour.
2.Suppose that we are comparing two countries, i and j, that are similar in every respect except the education of their population. In Country i, all adults have 10 years of schooling. In Country j, all adults have 4 years of schooling. Calculate the ratio of output per worker in steady state in the two countries. Use the data provided below.

3.Countries A and B have the same rates of investment, population growth, and depreciation. 代写增长经济学

They also have the same levels of income per capita. Country A has a higher rate of growth than Country B. According to the Solow model, which country has higher investment in human capital? Explain your answer.
4.Consider the following data on the fictional countries of Sylvania and Freedonia. The production function is y = Akαh^1-α, where 𝛼 = 0.5.

(a)Calculate the level of productivity, A, in each country.
(b)Calculate the countries’ relative levels of output if all differences in output were due to productivity.
(c)Calculate the countries’ relative levels of output if all differences in output were due to factor accumulation.

5.Consider the following data, which apply to countries X and Z in the years 1970 and 2005. In both countries, the production function (in per worker terms) is y = Akαh^1-α, where 𝛼 = 1/3. 代写增长经济学

Which country had higher productivity growth between 1970 and 2005? Show how you got your answer. (You do not need to use a calculator to answer this question).
6.The following table provides data on output per worker, physical capital per worker, and human capital per worker, all relative to the United States. For each of the three countries listed, calculate factor accumulation and productivity relative to the United States. In which country does factor accumulation play the largest role in explaining income relative to the United States? In which country does productivity play the largest role? Please use 𝛼 = 1/3.