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1. Suppose that output per worker is given by yt - kf, where kt is the...
10. Suppose that output per worker is given by yt -kf, where kt is the capital...
10. Suppose that output per worker is given by yt -kf, where kt is the capital stock per worker at year t and α 1/3. Workers invest 15% of their income. The capital stock depreciates at the rate of 10% per year. The size of the capital stock per worker at year t-0 is ko 10 According to the Solow model, what is the predicted growth rate of output per worker between years 0 and 1. (Assume zero population growth.)...
Consider an economy such that Capital per effective worker: kt Output per effective worker: yt =...
Consider an economy such that Capital per effective worker: kt Output per effective worker: yt = 2k0:5 Depreciation rate: 8 = 0.16 Saving rate: s= 0.3 Workforce growth rate: &N = 0.2 Technology growth rate: gA = 0.2 Evolution of capital per effective worker : kt+1 - kt = >> 1 _ syt-(6+8N+gA+SNSA)kt 1+gN+SA+SNSA In the steady state, capital per effective worker does not change over time. Let k* denote the steady state level of capital per effective worker. •...
Consider an economy such that Output per worker: yt = 2k£.5 Capital per worker: kt Saving...
Consider an economy such that Output per worker: yt = 2k£.5 Capital per worker: kt Saving rate: s = 0.2 Depreciation rate: 8 = 0.15 Workforce growth rate: gN = 0.25 sy-(8+g)k¢ Evolution of capital per worker: kt+1- kt = 1+gN In the steady state, capital per worker does not change over time. Let k* denote the steady state level of capital per worker In the steady state, capital per worker is а) 8 b) 4 c) 2 d) 1...
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation...
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation rate: 8 = 0.4 Saving rate: s = 0.2 Evolution of capital per worker: kt+1- kt = syt - Skt In the steady state, capital per worker does not change over time Let k* denote the steady state level of capital per worker Question 1.In the steady state, capital per worker is a)8 b)4 c)2 d)1 Question 2.Which one of the following statements is...
A country has the following production function: Yt=Kt^0.5Lt^0.5 Assume that 5 percent of of capital depreciates...
A country has the following production function: Yt=Kt^0.5Lt^0.5 Assume that 5 percent of of capital depreciates each year and the country saves 20 percent of output each year. What is the per worker production function, What is the steady-state level of capital per worker? What is the steady-state level of output per worker? The steady-state level of consumption per worker is: The steady-state level of saving per person is: The growth rate of output per person in the steady-state is:
Suppose the production function is given by yt=kt1/2 where y is the output per worker and k...
Suppose the production function is given by yt=kt1/2 where y is the output per worker and k is the capital per worker. Assume that the saving rate (S) is exogenous and the capital depreciates at δ rate. If the sum of both the depreciation rate and saving rate equals 1. Furthermore, assume that S=3δ. The steady state output is
Consider the Solow growth model. Output at time t is given by the production function Yt...
Consider the Solow growth model. Output at time t is given by the production function Yt = AKt3 L3 , where A is total factor productivity, Kt is total capital at time t and L is the labour force. Total factor productivity A and labour force L are constant over time. There is no government or foreign trade and Yt = Ct + It where Ct is consumption and It is investment at time t. Every agent saves s share...
Consider the Solow growth model. Output at time t is given by the production function Yt...
Consider the Solow growth model. Output at time t is given by the production function Yt = AK 1 3 t L 2 3 where Kt is total capital at time t, L is the labour force and A is total factor productivity. The labour force and total factor productivity are constant over time and capital evolves according the transition equation Kt+1 = (1 − d) ∗ Kt + It , where d is the depreciation rate. Every person saves...
supposed the production function is given by yt=kt1/2 where y is the output per worker and...
supposed the production function is given by yt=kt1/2 where y is the output per worker and k is the capital per worker. assume that the saving rate (s) is exogenous and the capital depreciates at S rate. If the sum of both is depreciation rate and the saving rate equals 1. Furthermore, assume that s=3S The steady state output a)9 b)2.25 c)3 d)0.75
3. If the production function is given by y=k:13 where yt where yt is the output...
3. If the production function is given by y=k:13 where yt where yt is the output per worker and kt is the capital per worker. Suppose that the saving rate (s) equals the depreciation rate (8) plus 0.4. Find the steady state capital, output, investment, and consumption? Hint: all steady state values are functions of either (s) or (8)
10. Suppose that output per worker is given by yt -kf, where kt is the capital stock per worker at year t and α 1/3. Workers invest 15% of their income. The capital stock depreciates at the rate of 10% per year. The size of the capital stock per worker at year t-0 is ko 10 According to the Solow model, what is the predicted growth rate of output per worker between years 0 and 1. (Assume zero population growth.)...
Consider an economy such that Capital per effective worker: kt Output per effective worker: yt = 2k0:5 Depreciation rate: 8 = 0.16 Saving rate: s= 0.3 Workforce growth rate: &N = 0.2 Technology growth rate: gA = 0.2 Evolution of capital per effective worker : kt+1 - kt = >> 1 _ syt-(6+8N+gA+SNSA)kt 1+gN+SA+SNSA In the steady state, capital per effective worker does not change over time. Let k* denote the steady state level of capital per effective worker. •...
Consider an economy such that Output per worker: yt = 2k£.5 Capital per worker: kt Saving rate: s = 0.2 Depreciation rate: 8 = 0.15 Workforce growth rate: gN = 0.25 sy-(8+g)k¢ Evolution of capital per worker: kt+1- kt = 1+gN In the steady state, capital per worker does not change over time. Let k* denote the steady state level of capital per worker In the steady state, capital per worker is а) 8 b) 4 c) 2 d) 1...
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation rate: 8 = 0.4 Saving rate: s = 0.2 Evolution of capital per worker: kt+1- kt = syt - Skt In the steady state, capital per worker does not change over time Let k* denote the steady state level of capital per worker Question 1.In the steady state, capital per worker is a)8 b)4 c)2 d)1 Question 2.Which one of the following statements is...
3. If the production function is given by y=k:13 where yt where yt is the output per worker and kt is the capital per worker. Suppose that the saving rate (s) equals the depreciation rate (8) plus 0.4. Find the steady state capital, output, investment, and consumption? Hint: all steady state values are functions of either (s) or (8)
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