Y=√K √AN, where K is capital, N is labor, A is the state of technology, and AN denotes the amount of effective labor in the econom Suppose that the saving rate, s, is equal to 13%, and that the rate of depreciation, 8, is equal to 9%. Suppose further that the number of workers, gn, grows at 2% per year and that the rate of technological progress, 9A, is 4% per year. Given the values of the economy, compute the following: The steady-state value of the capital stock per effective worker is. (Round your response to two decimal places.) The steady-state value of output per effective worker is (Round your response to two decimal places.) The steady-state value of the growth rate of output per effective worker is%. (Enter your response as an integer. The steady-state value of the growth rate of output per worker is%. (Enter your response as an integer.) he steady-state value of the growth rate of output is%. (Enter your response as an integer.) Suppose that the rate of growth of workers doubles to 4% per year. Recompute the steady-state values. The steady-state value of the capital stock per effective worker is. (Round your response to two decimal places. (Round your response to two decimal places.) he steady-state value of output per effective worker is The steady-state value of the growth rate of output per effective worker is%. (Enter your response as an integer he steady-state value of the growth rate of output per worker is%. (Enter your response as an integer.)

For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita? What about a middle-income country such as Brazil? A low-income country such as Niger?

An economy starts off with a GDP per capital of 12,000 euros. How large will the GDP per capita be if it grows at an annual rate of 3 for 10 years? 3 for 30 years? 6 for 30 years?

What are the advantages of backwardness for economic growth?

Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.

List the areas where government policy can help economic growth.