4. Assume that the capital transition equation, the consumption function, and the national income accounting equation are all the same as in problem 1. For each of the following production functions, find the steady state level of per-capita capital in this economy. Your answer should be a function of the parameters 8, s, and A. a. Yt = A√kt + kit A√kt - kt b. yt c. Yt = Akt

4. Assume that the capital transition equation, the consumption function, and the national income accounting equation are all the same as in problem 1. For each of the following production functions, find the steady state level of per-capita capital in this economy. Your answer should be a function of the parameters 8, s, and A. a. Yt = A√kt + kit A√kt - kt b. yt c. Yt = Akt

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 3P

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