Two countries, Richland and Poorland, are described by the Solow model. They have the same Cobb-Douglas production function F(K, L)=AK^L^(1−) but with different quantities of capital and labor. Richland saves 32% of its income, while Poorland saves 10 percent. Richland has population growth of 1% per year, while Poorland has population growth of 3% per year. (The numbers in this problem are chosen to be approximately realistic descriptions of rich and poor nations.) Both nations have technological progress at a rate of 2% per year and depreciation at a rate of 5% per year. Required:
What is the per-worker production function f(k)?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value