In the Solow growth model, what happens in an economy when technological progress results in the rate of depreciation falling? Use an economy where there are both workers and effective workers to illustrate the effects of this change in the rate of depreciation and show the steady state effects. USE GRAPHS.

Solow Growth Model    Why are these the right answers? See image.

In a Solow economy with technological progress, the production function is given by: Y = KO.5(LE)0.5. Furthermore, the saving rate of this economy is 0.2. The population growth rate is 0.03. The depreciation rate is 0.01. The technological progress is given by g which is equal to 0.01. Define y = Y/LE and k = K/LE. a) Find out the steady state values of k (i.e.: k*) and y (i.e.: y"). 2. Ay Ak AY ΔΚ b) Find out the values of and in the steady state. K y'k'Y

What are the characteristics of a steady state in the Solow growth​ model?

Good Evening My name is Helen here's the problem A country is described by the solow model, with production function of y=k1/2, Suppose that k is equal to 400. The fraction of output invested is 50%. the depreciation is 5%. Is the country at its steady-state level of output per worker, above the steady state, or below the steady state? Show how you reached your conclusion.

Explain how and why we need to extend the standard Solow model of long-run economic growth without technological progress to account for the increase of global GDP over the last 200 years. Critically discuss the standard Solow model with technological progress.

Consider the Solow growth model with labor growth and no technology growth, i.e., n = 0, x = 0. Output is created by a Cobb-Douglas produc- n0,x tion function combining Labor, Lt, and capital, Kt, such that output, Y+is given by Y₁ = A+ KL Yt 1-a For a given time t, Given a level of Capital, and Investment, It, and a depreciation rate of capital, 8, the level of capital at time t+1 is given by the following law of motion of capital K++1 = Kt - 8Kt + It The labor growth rate in this economy is n = 2%, depreciation is 8 = 4%, the savings rate is s = 25%, and a = 0.3. Initial levels of capital, labor and technology are Ko = 10, Lo = 5, Ao = 1 respectively. The economy is assumed to be closed with no government spending. What is the value for capital per worker at time t = 1? (a) 2.22 (b) 2.57 (c)1.78 (d) 1.82

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answer part a, b and c please!

[The following scenario applies to the next two questions.] Countries ABC and XYZ follow the simple Solow growth model, with no changes in the technology level. The savings rate is 31% greater in country ABC than in country XYZ. The depreciation rate is 5.38% and the population growth rate is 2.28% in both countries. In 20XX, capital per worker is 884 and real GDP per worker is 248 in both countries. The growth rate of capital per worker in country XYZ is 1.69% per annum. Question 1.1: Savings rate What is the savings rate in country XYZ? A. 15.41% B. 15.93% C. 16.46% D. 16.98% E. 17.51% Question 1.2: Growth rate of capital per worker What is the growth rate of capital per worker in country ABC? A. 2.92% B. 3.01% C. 3.10% D. 3.18% E. 3.27%