Consider a standard Solow-Swan model. A permanent increase in the level of total factor productivity will lead to an increase in investment per worker in the short run and in the long run will increase investment as a share of GDP. True or False? Explain

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Consider the Solow model extended with human capital. Suppose the production function is Cobb Douglas. Find the levels of physical and human capital in the steady state. Describe the joint dynamics of the two forms of capital if the economy is not at the steady state.

Explain the effects of a change in total factor productivity on the saving rates consistent with the Golden Rule of the Solow Model.

when a country adds ideas what is it doing to its productivity and GDP? Which variable in the Solow Model equation is it changing?

4. Suppose that we have a standard Solow model with a Cobb-Douglas production function. The central equation of the model is as follows:kt+1 = sAkαt + (1 − δ)kt.Consumption per worker is given by:ct = (1 − s)Akαt.(a) Solve for an expression for the steady state capital stock per worker. Indoing so, assume that the level of productivity is fixed at some value A.(b) Use your answer on the previous part to solve for an expression forsteady state consumption per worker.(c) Use calculus to derive an expression for the s which maximizes steadystate consumption per worker.