Please the person who answered to this question before, do not answer again so that other experts can answer it. I'm re-posting it because it's wrong.
Homework Answers
Add Answer to:
Please the person who answered to this question before, do not
answer again so that other...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function F(K, L) KL,economy 2 has a production function G(K, L) aK1 - a)L. For both economies capital grows according to (1). a) Write output per worker as a function of capital per worker for both economies. b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function F(K, L)KoL1-a, economy 2 has a production function G(K, L)-aK(1-a)L. For both economies capital grows according to (1). a) Write output per worker as a function of capital per worker for both economies. b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show graphically that it...
(Steady state in the Solow model) Consider two economies identical in everything except the production function.
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function \(F(K, L)=K^{\alpha} L^{1-\alpha}\), economy 2 has a production function \(G(K, L)=\alpha K+(1-\alpha) L\). For both economies capital grows according to (1).a) Write output per worker as a function of capital per worker for both economies.b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show graphically that...
Section B (LONG QUESTIONS): Answer any THREE (3) of the following four ques tions. Each question...
Section B (LONG QUESTIONS): Answer any THREE (3) of the following four ques tions. Each question is worth 25 marks for a total of 75 marks. B1. Solow (neoclassical) growth model: Consider the Solow (neoclassical) growth model seen in class where y denotes output per worker, k physical capital per worker, and A total factor productivity. Suppose that at any point in time the production function in per-worker terms is represented by where f(k) is increasing in k and there...
d) Make a graph of the curve In(Kt) with time on the x-axis. Carefully show the...
d) Make a graph of the curve In(Kt) with time on the x-axis. Carefully show the shape and label the slope of this curve. 2. (A simulated economy) Let Yǐ = F(Kt, Lt) = AK capital accumulation equation is given by The discrete time version of the L,-1 and labor grows at a rate of n-001. A = 1, Ko = 0.01 and 0.07. a) A and 100. ssume that s 0.2. Find the level of consumption in the economy...
1) Consider an economy with the following the production function: Y = F(K,L) = K^0.4L^0.6 a)...
1) Consider an economy with the following the production function: Y = F(K,L) = K^0.4L^0.6 a) Find output per worker b) Find the marginal product of capital c) Find the steady state level of capital per worker given a savings rate of 0.1, the depreciation rate of 0.2, and population growth of 0.05 d) Show graphically or analytically what will happen if there is a decrease in the rate of depreciation. What effect does this have on steady-state levels of...
(24) Consider a closed economy in which the population grows at the rate of 2% per...
(24) Consider a closed economy in which the population grows at the rate of 2% per year. The depreciation rate of capital is 10% per year. The saving rate is 10% The per-worker production function is Yt = 4.8k0.5, where y is output per worker and k is capital per worker. The steady state growth rate of output per worker is equal to (A) 0% (B) 2% (C) 8% (D) 10% (25) Consider a closed economy in which the population...
Please answer the last person didn't answer all of it. Thank you! 1 Growth Rates of...
Please answer the last person didn't answer all of it. Thank
you!
1 Growth Rates of Capital and Output Consider the following production function: Assume that capital depreciates at rate ? and that savings is a constant proportion s of output: Assume that investment is equal to savings: Finally, assume that the population is constant Lt = Lt+1 = L 1. The production function above expresses output as a function of capital and labor (workers) Derive a function that expresses...
Consider the Solow growth model. The production function is given by Y = K αN1−α ,...
Consider the Solow growth model. The production function is given by Y = K αN1−α , with α = 1/3. Depreciation rate δ = 0.05, and saving rate s = 0.25. Labor force grows at the rate n = 0.01. (a) Write down the law of motion for capital per worker. (b) Compute steady state capital per worker. (c) Suppose the economy has initial capital per worker k0 = 4. Describe the dynamics of this economy, i.e., how does capital...
Question 3 : Solow model with long-run TFP growth [20 marks] Suppose output is given by...
Question 3 : Solow model with long-run TFP growth [20 marks] Suppose output is given by Y = K}(AN) As in the basic model, the workforce grows at rate n, capital depreciates at rate d and the savings rate is s. In addition, suppose that TFP grows at a constant rate g. That is: ΔΑ A9 We will refer to the product AN as the "effective workforce". It follows that the effective workforce grows at rate n+g. a. Express the...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function F(K, L) KL,economy 2 has a production function G(K, L) aK1 - a)L. For both economies capital grows according to (1). a) Write output per worker as a function of capital per worker for both economies. b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function F(K, L)KoL1-a, economy 2 has a production function G(K, L)-aK(1-a)L. For both economies capital grows according to (1). a) Write output per worker as a function of capital per worker for both economies. b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show graphically that it...
3. (Steady state in the Solow model) Consider two economies identical in everything except the production function. Economy 1 has a production function \(F(K, L)=K^{\alpha} L^{1-\alpha}\), economy 2 has a production function \(G(K, L)=\alpha K+(1-\alpha) L\). For both economies capital grows according to (1).a) Write output per worker as a function of capital per worker for both economies.b) Compute the steady state value of capital per worker for both these economies or, if it does not exist, show graphically that...
Section B (LONG QUESTIONS): Answer any THREE (3) of the following four ques tions. Each question is worth 25 marks for a total of 75 marks. B1. Solow (neoclassical) growth model: Consider the Solow (neoclassical) growth model seen in class where y denotes output per worker, k physical capital per worker, and A total factor productivity. Suppose that at any point in time the production function in per-worker terms is represented by where f(k) is increasing in k and there...
d) Make a graph of the curve In(Kt) with time on the x-axis. Carefully show the shape and label the slope of this curve. 2. (A simulated economy) Let Yǐ = F(Kt, Lt) = AK capital accumulation equation is given by The discrete time version of the L,-1 and labor grows at a rate of n-001. A = 1, Ko = 0.01 and 0.07. a) A and 100. ssume that s 0.2. Find the level of consumption in the economy...
(24) Consider a closed economy in which the population grows at the rate of 2% per year. The depreciation rate of capital is 10% per year. The saving rate is 10% The per-worker production function is Yt = 4.8k0.5, where y is output per worker and k is capital per worker. The steady state growth rate of output per worker is equal to (A) 0% (B) 2% (C) 8% (D) 10% (25) Consider a closed economy in which the population...
Please answer the last person didn't answer all of it. Thank
you!
1 Growth Rates of Capital and Output Consider the following production function: Assume that capital depreciates at rate ? and that savings is a constant proportion s of output: Assume that investment is equal to savings: Finally, assume that the population is constant Lt = Lt+1 = L 1. The production function above expresses output as a function of capital and labor (workers) Derive a function that expresses...
Question 3 : Solow model with long-run TFP growth [20 marks] Suppose output is given by Y = K}(AN) As in the basic model, the workforce grows at rate n, capital depreciates at rate d and the savings rate is s. In addition, suppose that TFP grows at a constant rate g. That is: ΔΑ A9 We will refer to the product AN as the "effective workforce". It follows that the effective workforce grows at rate n+g. a. Express the...
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 1 hour ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 2 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 3 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 4 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 5 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 6 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 7 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 7 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 8 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 10 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 10 hours ago