An economy has the per-worker production function fk 10k04, Ask an Expert

Economics

An economy has the per-worker production function f(k) = 10k0.4. The depreciation rate is d = 0.05 and the labor force growth rate is n = 0.01. The saving function, in aggregate form, is St = 0.3Yt . Find the steady-state capital-labor ratio, the steady-state value of output per worker, and the steady-state value of consumption per worker.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9749100

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