Question in the solow growth model with labor-augmenting, Ask an Expert

Economics

Question: In the solow growth model, with labor-augmenting technological progress and population growth, if the production function is y= k^1/2, s= .15, depreciation= .02, n=.02 and g= .01:

a. what is the steady-state level of capital per effective worker?

b. what is the level of consumption per effective worker at this steady-state level?

c. what is the golden rule level of capital per effective worker?

d. what is the savings rate necessary to obtain k*gold?

e. what is the golden rule level of consumption?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M93136353

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