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Two countries B and C have a production function Y= AK^1/3 L^2/3
The population growth rate is 0.1, physical capital
Write the production function in terms of output per capita (Y/N) and find the steady-state values of the capital-labour ratio (K/N) in both countries.
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- A country that has the production function below, which depends on capital and labor. Describe per-capita production" y" as a function of the per- capita capital stock "k". Show the level of capital on the steady state (k*). Show that the steady state output per- capita (y*) Y = 100K ^ (1)/(3) L^(2)/(3)If the share of GDP used for capital goods is 0.3, the growth rate of productivity is 0.01, the growth rate of population is 0.04, the depreciation rate is 0.05, the initial capital/output ratio is 0.53, and the elasticity of GDP with respect to capital is 0.1, then what is the growth rate of the GDP per capita? Use three decimal places. Please show worked solution, thank you very muchAssume a country with a population size, L = 100. If the steady-state value of capital per worker is 10 and the production function is Y = K0.5L0.5, what is the steady-state value of output per worker? Round your answer to the nearest tenth position (e.g. if your answer is "12.3568", then write "12.4").
- Use the following table to find the steady-state values of the capital-labor ratio and output if the per-worker production function is 03 Yt=2k₁ 3 8 n A Saving rate Depreciation rate Population growth rate Technology 0.47 0.03 0.02 2 k* = Steady-state capital-labor ratio= (Round your response to two decimal places.) y* = Steady-state output = (Round your response to two decimal places.)Consider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of $10,000 and experienced a growth rate of 10%, while Country B had a per capita GDP of $40,000 and experienced a growth rate of 2%. Assuming that the growth rates remain unchanged, which country will have a higher per capita GDP when t = 35 time periods (years)? O Country B O Country A O All of these choices are correct. They are the sameIf Y = A*(K*L)^.5 a. What is the equation for the steady state capital per worker k* in terms of savings rate deprectation rate population growth rate and technology? b. If technology doubles how much does the steady state of capital increase by?
- Use the following table to find the steady-state values of the capital-labor ratio and output if the per-worker production 03 function is y=2k S Saving rate 8 Depreciation rate n Population growth rate A Technology 0.35 0.02 0.06 2 k* = Steady-state capital-labor ratio = y*= Steady-state output = (Round your responses to two decimal places.) CHILD Output, Investment, and Depreciation Capital-Labor Ratio Output Depreciation Investment After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line QAn economy described by the Solow growth model has the following production function: y = Vk A. Solve for the steady-state value of y as a function of s, n, g, and d. B. A developed country has a saving rate of 28 percent and a population growth rate of 1 percent per year. A less developed country has a saving rate of 10 percent and a population growth rate of 4 percent per year. In both countries, g = 0.02 and d= 0.04. Find the steady- state value of y for each country. C. What policies might the less developed country pursue to raise its level of income?The developed country has a savings rate of 30% and a population growth rate of 2% per year. Meanwhile, the developing country has a savings rate of 15% and population growth rate of 5% a year. Technology evolves at the rate of 8% and 2% in the developed and developing countries respectively. In both countries, δ = 0.05. Find the steady-state value of y for each country (up to three decimal places).
- 1. A country has the per-worker production function: Yt = 6k/3 where y, is output per worker and k, is the capital-labor ratio. The depreciation rate is 0.1 and the population growth rate is 0.1. The saving function is S; = 0.1Y, where S, is total national saving and Y, is total output. a) What is the steady-state value of capital-labor ratio? b) What is the steady-state value of output per worker? c) What is the steady-state value of consumption per worker? Answer: 2. What happens in the steady state to the capital-labor ratio, output per worker, and consumption per worker when each of the following events occur? You should assume that the steady-state capital-labor ratio is below the Golden Rule level. k y a) Productivity falls b) Population growth falls c) The saving rate falls d) The depreciation rate fallsPopulation Growth and Technological Progress – Work It Out PLEASE WRITE ANSWERS CLEARLY An economy has a Cobb-Douglas production function: Y = K“(LE)'-a The economy has a capital share of 0.30, a saving rate of 42 percent, a depreciation rate of 4.00 percent, a rate of population growth of 5.25 percent, and a rate of labor-augmenting technological change of 3.5 percent. It is in steady state. b. Solve for capital per effective worker (k*), output per effective worker (y*), and the marginal product of capital. k* = y* = marginal product of capital =Suppose that the production function is Y = 10 ( K )^1/4 ( L )^3/4 and capital lasts for an average of 50 years . Assume that the rate of growth of population equals 0 and saving rate s = 0.128 . a. Calculate the steady - state level of capital per worker , output per worker , consumption per worker , saving and investment per worker , and depreciation per worker b. Suppose that initial level of capital per worker is 100 , explain the moving process to the steady state . c . Use relevant graph to demonstrate . Plsss provide detailed answers, thank you
