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Let the production function for an economy be Y-AK1/2_1/2 where Y is output, K is capital,...
1. Let the production function for an economy by given by Y=AK1/2L1/2 where Y is output,...
1. Let the production function for an economy by given by Y=AK1/2L1/2 where Y is output, K is capital, L is labor and A is “ideas.” a. If L=25, A=10, the savings rate is ¼ and the depreciation rate is ½, what will the steady-state values of output, capital and consumption be? b. On a graph, show what will happen to steady-state output and capital of there is a decrease in the depreciation rate. 2. As capital increases, the marginal...
Need help with these questions. With explanations if possible! 1. Let the production function for an...
Need help with these questions. With explanations if possible! 1. Let the production function for an economy by given by Y=AK1/2L1/2 where Y is output, K is capital, L is labor and A is “ideas.” a. If L=25, A=10, the savings rate is ¼ and the depreciation rate is ½, what will the steady-state values of output, capital and consumption be? b. On a graph, show what will happen to steady-state output and capital of there is a decrease in...
0.5 , where y is output per worker and k Suppose that an economy has the...
0.5 , where y is output per worker and k Suppose that an economy has the per-worker production function given as: Y = 5k is capital per worker. In addition, national savings is given as: S = 0.1074, where S is national savings and Y is total output. The depreciation rate is d = 0.10 and the population growth rate is n = 0.10 The steady-state value of the capital-labor ratio, k is 6.25. The steady-state value of output per...
II. Long Problems 1. An economy has the production function Y-AKL where Y represents real output,...
II. Long Problems 1. An economy has the production function Y-AKL where Y represents real output, K is capital L is labor and A represents the level of technology. Let A-8, L-36, the savings rate be 1/4 and the depreciation rate be 1/5. Find the steady-state level of capital, output and consumption. 2. People become more patient (more willing to give up present consumption for future consumption) a. Show the effect of this in the market for loanable funds and...
0.5 Suppose that an economy has the per-worker production function given as: Vt 4kt, where y...
0.5 Suppose that an economy has the per-worker production function given as: Vt 4kt, where y is output per worker and k is capital per worker In addition, national savings is given as: St0.20Y where S is national savings and Y is total output The depreciation rate is d 0.05 and the population growth rate is n 0.05 The steady-state value of the capital-labor ratio, k is 64.00 The steady-state value of output per worker, y is 32.00. The steady-state...
Suppose that an economy has the per-worker production function given as: y = 4k., where y...
Suppose that an economy has the per-worker production function given as: y = 4k., where y is output per worker and k is capital per worker. In addition, national savings is given as: S, = 0.10Y, where S is national savings and Y is total output. The depreciation rate is d = 0.10 and the population growth rate is n = 0.10. The steady-state value of the capital-labor ratio, kis 4.00. The steady-state value of output per worker, y is...
When St=0.4Yt，k? y? c? Suppose that an economy has the per-worker production function given as: y...
When St=0.4Yt，k? y? c?
Suppose that an economy has the per-worker production function given as: y = 3405 where y is output per worker and k is capital per worker. In addition, national savings is given as: S = 0.37 where S is national savings and Y is total output Use the production and savings functions on your left and the depreciation and population growth rates below to answer the following questions. (Round all numerical responses to one decimal place)...
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...
Suppose that an economy has the per-worker production function given as: y = 345 where y...
Suppose that an economy has the per-worker production function given as: y = 345 where y is output per worker and kis capital per worker. In addition, national savings is given as: S, = 0.3Y where S is national savings and Y is total output Use the production and savings functions on your left and the depreciation and population growth rates below to answer the following questions. (Round all numerical responses to one decimal place.) Depreciation rate (d) = 0.1...
2. The production function of an economy is y = 2-kas, where y is output per...
2. The production function of an economy is y = 2-kas, where y is output per labor and k is capital per labor. The growth rate of the labor force is 2% and the rate of capital depreciation is 5%. There is no Calculate the steady state capital-labor ratio (k*) if the saving rate is 10%! (3 points) What is the saving rate corresponding to the 'golden rule' growth path? (3 points) technological change a) b) c) Calculate the growth...
0.5 , where y is output per worker and k Suppose that an economy has the per-worker production function given as: Y = 5k is capital per worker. In addition, national savings is given as: S = 0.1074, where S is national savings and Y is total output. The depreciation rate is d = 0.10 and the population growth rate is n = 0.10 The steady-state value of the capital-labor ratio, k is 6.25. The steady-state value of output per...
II. Long Problems 1. An economy has the production function Y-AKL where Y represents real output, K is capital L is labor and A represents the level of technology. Let A-8, L-36, the savings rate be 1/4 and the depreciation rate be 1/5. Find the steady-state level of capital, output and consumption. 2. People become more patient (more willing to give up present consumption for future consumption) a. Show the effect of this in the market for loanable funds and...
0.5 Suppose that an economy has the per-worker production function given as: Vt 4kt, where y is output per worker and k is capital per worker In addition, national savings is given as: St0.20Y where S is national savings and Y is total output The depreciation rate is d 0.05 and the population growth rate is n 0.05 The steady-state value of the capital-labor ratio, k is 64.00 The steady-state value of output per worker, y is 32.00. The steady-state...
Suppose that an economy has the per-worker production function given as: y = 4k., where y is output per worker and k is capital per worker. In addition, national savings is given as: S, = 0.10Y, where S is national savings and Y is total output. The depreciation rate is d = 0.10 and the population growth rate is n = 0.10. The steady-state value of the capital-labor ratio, kis 4.00. The steady-state value of output per worker, y is...
When St=0.4Yt，k? y? c?
Suppose that an economy has the per-worker production function given as: y = 3405 where y is output per worker and k is capital per worker. In addition, national savings is given as: S = 0.37 where S is national savings and Y is total output Use the production and savings functions on your left and the depreciation and population growth rates below to answer the following questions. (Round all numerical responses to one decimal place)...
Suppose that an economy has the per-worker production function given as: y = 345 where y is output per worker and kis capital per worker. In addition, national savings is given as: S, = 0.3Y where S is national savings and Y is total output Use the production and savings functions on your left and the depreciation and population growth rates below to answer the following questions. (Round all numerical responses to one decimal place.) Depreciation rate (d) = 0.1...
2. The production function of an economy is y = 2-kas, where y is output per labor and k is capital per labor. The growth rate of the labor force is 2% and the rate of capital depreciation is 5%. There is no Calculate the steady state capital-labor ratio (k*) if the saving rate is 10%! (3 points) What is the saving rate corresponding to the 'golden rule' growth path? (3 points) technological change a) b) c) Calculate the growth...
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