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ECO362H1 (1)

chapter review up to midterm

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Michael Denny

Chapter 1 AppendixUse price of a standard basket in each country Now compare prices Convert units to that of one country Compare gdps in same unit pricePPPlaspeyres paasche fisherChapter 3solow1 yAk From YAKLkAkkIf two countries have same rate of investment but different incomes the country with the lower income will grow fasterSimilarly with same incomes but different investment rates the country with higher investment will grow faster A country that raises rate of investment will experience an increase in rate of income growthSaving or rate of investment can rely on income A country with higher income can afford to save more thereby increasing income growthChapter 4population and economic growthMalthusian model two graphs labour force down shows labour at given income and labour growth up shows income at given labour growth rate versus income per capitaA change in the growth rate of the labour force will produce a new steady state level for labour positiveA change in the labour level has no effect on the growth rate at a given level of incomeCapital dilution Add population growth to capital depreciationkAknkDemographic transition NRR net rate of reproduction number of kidsprobability mom is alive at given timeprobability of having a girl Mortality calculated by life expectancy at
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