Business, 07.12.2019 02:31 staciagirl3880

Consider the system of regions in china as closed sell- sufficient economies. each of these starts with an endowment of capital and labor. daca has a production function of the following form: (y/l) = (k/l)0.5 the savings rate in each region is 20%. the population growth rate in each region is 2% per year and the depreciation rate is 3% per year. a. what is the equilibrium level ok/l in each region? what is the equilibrium level of (y/l) in each region? b. if in a given region the current k/l is 9, what is the current level of (y/l) in that region? what is the level of savings per worker in that region? c. for the same region as (b) with a k/l of 9, what is the level of depreciation and capital growth) per worker necessary to keep the k/l ratio constant? how does this compare (greater, less, or equal to the savings per worker identified in (b)? d. given your answers to b and c what do you expect to happen to (k/l) in this region between this year and next year?

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Consider the system of regions in china as closed sell- sufficient economies. each of these starts w...

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