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Category > Economics Posted 22 Jun 2017 My Price 4.00

Solow model

  1. A country is described by the Solow model, with a production function of y=k ½. Suppose that k is equal to 400. The fraction of output invested is 50%. The deprecation rate is 5%. Is the country at its steady state level of output per worker, above the steady state, or below the steady state? Show how you reached your conclusion. 

 

 

2. In Country 1 the rate of investment is 5%, and in Country 2 it is 20%. The two countries have the same level of productivity., A, and the same rate of deprecation, δ. Assuming that the value of α is 1/3, what is the ratio of steady state output per worker in Country 1 to steady state per worker in Country 2? What would the ratio be if the value of α were 2/3?

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SuperTutor
(15)
Status NEW Posted 22 Jun 2017 03:06 AM My Price 4.00

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