An economy produces with the production function Y = 10K1/2L 1/2 . There is no population growth or technological progress. The depreciation rate is 10% and the saving rate is 60% a. Show that the production function is constant returns to scale. b. Show that the function can be written y = 10k 1/2 where y = Y L and k = K L c. Assume kt = 3025. Find kt+1, kt+2, and kt+3 d. Now assume kt = 4225. Again find kt+1, kt+2, and kt+3

What do economists mean when they use the latin expression ceteris paribus?

Which statement best explains the relationship between points a and b? a. consumption reaches its highest point, and then supply begins to fall. b. inflation reaches its highest point, and then the economy begins to expand. c. production reaches its highest point, and then the economy begins to contract. d. unemployment reaches its highest point, and then inflation begins to decrease.

The wall street journal reported that walmart stores inc. is planning to lay off 2,300 employees at its sam's club warehouse unit. approximately half of the layoffs will be hourly employees (the wall street journal, january 25-26, 2014). suppose the following data represent the percentage of hourly employees laid off for 15 sam's club stores. 55 56 44 43 44 56 60 62 57 45 36 38 50 69 65 (a) compute the mean and median percentage of hourly employees being laid off at these stores. (b) compute the first and third quartiles. (c) compute the range and interquartile range. (d) compute the variance and standard deviation. (e) do the data contain any outliers? (f) based on the sample data, does it appear that walmart is meeting its goal for reducing the number of hourly employees?