0.5 = Suppose that an economy has the per-worker production function given as: yt 3k where y is output per worker and k

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0 5 Suppose That An Economy Has The Per Worker Production Function Given As Yt 3k Where Y Is Output Per Worker And K 1 (152.75 KiB) Viewed 29 times

0.5 = Suppose that an economy has the per-worker production function given as: yt 3k where y is output per worker and k is capital per worker. 0.30Y, where S is national savings and Y is total output. In addition, national savings is given as: St = The depreciation rate is d = 0.10 and the population growth rate is n = 0.05 The steady-state value of the capital-labor ratio, k is 36.00. The steady-state value of output per worker, y is 18.00. The steady-state value of consumption per worker, c is 12.600. Use the same production function as before, but now let the savings rate be 0.40 rather than 0.30. St = = 0.40Yt The depreciation rate is d = 0.10 and the population growth rate is n = 0.05. (Enter all responses as decimals rounded up to three places.) 9 What is the new steady-state value of the capital-labor ratio, k? What is the new steady-state value of output per worker, y? What is the new steady-state value of consumption per worker, c?