1. Give a precise and complete definition or explanation of the following concepts, models or theories: (a) a balanced growth path;I (b) the role of the rate of capital depreciation at steady-state equilibrium in the Solow model (c) indeterminacy of a rational expectations equilibrium (d) a Dixit-Stiglitz (1977) "ideal" Home-good price level aggregator (or index); hint: this should denote, by a subscript H, the price PH, at t of a Home-produced differentiated good / in the case of an open economy when foreign goods are imported and also available for consumption, and therefore entering the consumer price index; (e) the concept of learning by doing in Arrow's (1962) model.
