MGEA06H3 Chapter Notes - Chapter 6-19: Autarky, Foreign Exchange Market, Human Capital
24 Feb 2015
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MGEA06H3 Full Course Notes
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Wheat farmers produce wheat and sold all of them to the millers. The millers turn the wheat into flour and sell all the flour at ( sold to consumers and sold to bakers). In the initial period, the economy has an adult population of 6300. Of the 400 new immigrants, 75% of them enter the labour market. Of those new immigrants who enter the labour market, 80% of them are able to get a job immediately. Find the unemployment rate in the later period (rounded to 2 decimal places). The gdp deflator in 1987 and 2012 were 84. 7 and 142. 3 respectively (setting the index to 100 in. Suppose an economy can be characterized by the following per-worker production function: Suppose some of the investment that the economy undertook in the past had turned into physical capital. As a result, the capital-labour ratio increases by 20%.
