Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Oct 2017 My Price 4.00

production function,

9.  Deficits and the capital stock

For the production function, Y = 1K 1N equation (11.8) gives the solution for the steady-state capital stock per worker.

a.    Retrace the steps in the text that derive equation (11.8).

b.   Suppose that the saving rate, s, is initially 15% per year, and the depreciation rate, d, is 7.5%. What is the steady- state capital stock per worker? What is steady-state output per worker?

c.    Suppose that there is a government deficit of 5% of GDP and that the government eliminates this deficit. Assume that private saving is unchanged so that total saving in- creases to 20%. What is the new steady-state capital stock per worker? What is the new steady-state output per worker? How does this compare to your answer to part (b)?

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Maurice Tutor
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Status NEW Posted 03 Oct 2017 10:10 PM My Price 4.00

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