Homework Answers
a) According to the diagram output per worker increases with increase in çapital per worker but outper worker increases at a decreasing rate.
b) The source of growth can be due to increase in the technology which will increase the productivity.
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Q#04 (10 Marks) YIN = F(KIN, 1) Output per worker, YIN A B с Capital per...
Use the function above to show how much output per worker can be produced from the...
Use the function above to show how much output per worker can be
produced from the following amounts of capital per worker:
K/N
= {0, 5, 10, 15, 20, 25, 30, 35, 40, 45, 50}
1.) Using the multipoint curve drawing
tool,
draw a curve showing the relationship between
Y/N and K/N
by using the above function and the values for
K/N.
Assume you are given the following production function that relates output per worker to capital per worker:...
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.)...
Question 2 130 marks] Suppose that the production function is given by Y 0.5VKv/N. Assume that...
Question 2 130 marks] Suppose that the production function is given by Y 0.5VKv/N. Assume that the size of the population, the labour participation rate and the unemployment rate are all constant. a) Does this production function exhibit constant returns to scale? Explain (5 marks) b) Explain the difference between returns to factors of production and returns to scale (4 marks) cTransform the production function into a relationship between output per worker and capital per worker. (5 marks) d) Assume...
5. Calibrated Cobb-Douglas Growth Model Assume an economy has the following production function: Y = F(K,...
5. Calibrated Cobb-Douglas Growth Model Assume an economy has the following production function: Y = F(K, AL) = K 0.4 (AL)0.6. (a) Write down the production function per effective worker. (20 marks) (b) For this economy, the savings rate is 20%, the depreciation rate is 10% per year, the population growth rate is 2% per year, and the technology growth rate is 3% per year. Calculate the steady-state capital stock per effective worker, output per effective worker, and consumption per...
suppose that the growth rate of output per worker is 2% and that the growth rate...
suppose that the growth rate of output per worker is 2% and
that the growth rate of capital per worker is 1% calculate the
growth rate of total factor productivity assuming a production
function of Y
4. (20 points) Suppose that the growth rate of output per worker is 2% and that the growth rate of capital per worker is 1%. Calculate the growth rate of total factor productivity assuming a production tu of Y = AK -9, with a...
Problem Set on Growth and the Solow Model KIN 1. Suppose that the production function for Serbia is given by Y (a) I...
Problem Set on Growth and the Solow Model KIN 1. Suppose that the production function for Serbia is given by Y (a) If you double the amount of capital and double the amount of labor available, does output always double? Show mathematically (b) Rewrite the production function in intensive form. (c) Suppose the savings rate is r and the depreciation rate is m. Derive an expression for the steady state capital per worker and the steady state output per worker....
1. Suppose that output per worker is given by yt - kf, where kt is the...
1. Suppose that output per worker is given by yt - kf, where kt is the capital stock per worker at year t and 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...
pls solve parts f,g,h Suppose Country X's initial capital per effective worker (K/AN) ratio is 16,...
pls solve parts f,g,h
Suppose Country X's initial capital per effective worker (K/AN) ratio is 16, while Country Z's initial capital per effective worker (KAN) ountries have the same production function: F(K, A,N) = 10K, 5(AN)05 (a) Derive the output per effective worker. The evolution of the capital stock is given by K +1 = (1 - 6)K, + I, where is the depreciation rate. (b) Derive and show that in the long-run growth model, the steady state capital per...
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...
Use the function above to show how much output per worker can be
produced from the following amounts of capital per worker:
K/N
= {0, 5, 10, 15, 20, 25, 30, 35, 40, 45, 50}
1.) Using the multipoint curve drawing
tool,
draw a curve showing the relationship between
Y/N and K/N
by using the above function and the values for
K/N.
Assume you are given the following production function that relates output per worker to capital per worker:...
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.)...
Question 2 130 marks] Suppose that the production function is given by Y 0.5VKv/N. Assume that the size of the population, the labour participation rate and the unemployment rate are all constant. a) Does this production function exhibit constant returns to scale? Explain (5 marks) b) Explain the difference between returns to factors of production and returns to scale (4 marks) cTransform the production function into a relationship between output per worker and capital per worker. (5 marks) d) Assume...
5. Calibrated Cobb-Douglas Growth Model Assume an economy has the following production function: Y = F(K, AL) = K 0.4 (AL)0.6. (a) Write down the production function per effective worker. (20 marks) (b) For this economy, the savings rate is 20%, the depreciation rate is 10% per year, the population growth rate is 2% per year, and the technology growth rate is 3% per year. Calculate the steady-state capital stock per effective worker, output per effective worker, and consumption per...
suppose that the growth rate of output per worker is 2% and
that the growth rate of capital per worker is 1% calculate the
growth rate of total factor productivity assuming a production
function of Y
4. (20 points) Suppose that the growth rate of output per worker is 2% and that the growth rate of capital per worker is 1%. Calculate the growth rate of total factor productivity assuming a production tu of Y = AK -9, with a...
Problem Set on Growth and the Solow Model KIN 1. Suppose that the production function for Serbia is given by Y (a) If you double the amount of capital and double the amount of labor available, does output always double? Show mathematically (b) Rewrite the production function in intensive form. (c) Suppose the savings rate is r and the depreciation rate is m. Derive an expression for the steady state capital per worker and the steady state output per worker....
1. Suppose that output per worker is given by yt - kf, where kt is the capital stock per worker at year t and 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...
pls solve parts f,g,h
Suppose Country X's initial capital per effective worker (K/AN) ratio is 16, while Country Z's initial capital per effective worker (KAN) ountries have the same production function: F(K, A,N) = 10K, 5(AN)05 (a) Derive the output per effective worker. The evolution of the capital stock is given by K +1 = (1 - 6)K, + I, where is the depreciation rate. (b) Derive and show that in the long-run growth model, the steady state capital per...
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...
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