a. What is the economic growth rate and how is it calculated?
b. What is the GDP deflator and how is it calculated? Use the data in the
following table to calculate the GDP deflator for each year (values are in
billions of dollars):
13 377 12 959
14 029 13 206
14 292 13 162
13 939 12 703
14 527 13 088
c. Which year from 2014 to 2018 saw the largest percentage increase in the
price level as measured by the GDP deflator? Briefly explain.
Week 5 Growth sources and policies
a. Using the per-worker production function graphs below, show the effect on real
GDP per hour worked of an increase in capital per hour worked, holding
technology constant. Now, again using the per-worker production function
graph, show the effect on real GDP per hour worked of an increase in
technology, holding the quantity of capital per hour worked constant.
b. What are the consequences for economic growth of diminishing returns to
capital? How are some economies able to maintain high growth rates despite
diminishing returns to capital?
a. What is the new growth theory? How does the new growth theory differ from
the growth theory developed by Robert Solow?
b. Why does the economic growth model predict that poor countries should catch
up to rich countries in income per capita? Have poor countries been catching
up to rich countries?
a. Why are firms likely to under-invest in research and development, which slows
the accumulation of knowledge capital, slowing economic growth? Briefly
discuss three ways in which government policy can increase the accumulation
of knowledge capital.
b. Why does knowledge capital experience increasing returns at the economy
level while physical capital experiences decreasing returns?
- Why might some people in high-income countries be more concerned with
certain negative consequences of rapid economic growth than people in lowincome countries?
- How might greater flexibility in labour markets and greater efficiency in financial
markets lead to higher growth rates in real GDP per capita?
National Youth Screening and Assessment Project, may also be available to support implementation. c. DJS should consider amending its practice of screening all youth who appear at the BCJJC for detention admission using the Detention Risk Assessment Instrument, even youth who will ultimately be diverted prior to DJS referral through the BPD Diversion Program. This will limit young people’s exposure to the detrimental impact and collateral consequences associated with generating unnecessary DJS and court records. d. BPD should develop a training and messaging strategy to increase officer knowledge and understanding of new policies and protocols for interacting with youth, the purpose of the juvenile court system, details of juvenile justice process, and the purpose of secure detention. Clear and consistent messaging for officers will help to mitigate the obdurate frustration that officers reportedly experience when they perceive that young people are not being held accountable by the system. e. Conduct a case processing analysis of adult-charged youth in detention to identify why time spent in detention for these youth has doubled from 2014 to 2018 and develop policies and programs to address the causes of delays. 2. Programs and Conditions a. The City should partner closely with DJS and the Baltimore JDAI Oversight Board to assess the continuum of Secure Detention Alternative established by DJS and the extent to which it meets existing needs. b. The City and its appropriate offices and agencies should partner with DJS to identify additional programs for youth in detention, in particular youth charged as adults, that can help young people build skills and connections that will help them succeed following release and return to their communities. c. To the extent that there are gaps in the existing Secure Detention Alternatives Continuum, the City and DJS should partner closely to identify resources to enhance the Alternative Continuum. As a resource, stakeholders should consult the results of the Youth Service Provider Survey conducted as part of this assessment. 3. Community Engagement and Partnerships>GET ANSWER