Business, 06.10.2019 04:01 rainyfallaw
An economy has the per worker production function y = 3k1/2where y is output per worker and k is the capital-labor ratio. the depreciation rate is 0.1, and the population growth rate is 0.05. the saving rate is 0.3.a. what are the steady-state values of y, k and c (consumption per worker)? b. repeat part a for a saving rate of 0.4 instead of 0.3.c. repeat part a. for a population growth rate of 0.08 (with s = 0.3).d. what is the golden rule level of k? what saving rate is needed to achieve it? e. repeat part a. for a production function y = 4k1/2. assume that the saving rate and population growth rate are at their original values. what saving rate is needed to achieve the golden rule level of k now?
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An economy has the per worker production function y = 3k1/2where y is output per worker and k is the...
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