Published on 20 Apr 2016
In last week’s Principles of Macroeconomics video, you learned about the steady state level of capital and the Solow model of economic growth. Here are two of the practice questions from that video:
Country A has K=10,000 and produces GDP according to the following equation: GDP=5√K.
1) If the country devotes 25% of its GDP to making investment goods, how much is the country investing?
2) If 1% of all machines become worthless every year (they depreciate, in other words) in Country A, GDP is…?
June 19, 2017
Office Hours: The Solow Model
The Articles of Confederation – IV: Constitutional Convention – Extra History
Published on May 27, 2017
What if we kept the Articles of Confederation? The Alternate History Hub explores: https://www.youtube.com/watch?v=x1NTboCDbtk
The war finally ended and the United States secured their independence from Great Britain, but immediately their Confederation seemed to be on the verge of falling apart. Alexander Hamilton and James Madison teamed up to organize a new convention where all the states would not just reform the Articles of Confederation, but replace them entirely.
QotD: The Pope
I am not a Catholic but I understand that, unlike the position of Archbishop of Canterbury, where total contempt from the congregants more or less comes with the job, the Bishop of Rome is generally held in some respect by his church.
Mark Steyn, “Last Laughs in Europe”, SteynOnline.com, 2015-09-28.