ECON 002 Lecture Notes - Lecture 15: Commodity Money, Multiple Choice
Document Summary
Econ-002: macro economics lecture 14 solow model part 3 & money, the. High savings rate means high gdp per capita in long run. With the same initial aggregate capital stock, country with higher savings rate grows faster. With the same savings rate, the country with lower initial aggregate capital stock grows faster. Lower population growth rate tend to men higher gdp per capita in the short run and lower gdp growth in the long run. With same initial aggregate capital stock, country with lower population growth rate grows faster. In the long run, all countries with same parameters (n, d, s, a, alpha), but different initial capital reach to the same gdp per capita. In the long-run, per capita gdp stops growing for all countries stops (this is assuming that a is same) Time will be limited, practice the speed of solving problems. Multiple choice will be the main way students get points.
