Consider an economy with a Cobb-Douglass production function Y = A1-«KªN1-a Where TFP, A, grows at a rate of g per year and population grows at a rate of п рer year. 1. Derive an expression for the production function per effective worker f(k) = Yt in terms of the ratio of capital per effective worker ki AtNt

Consider an economy with a Cobb-Douglass production function Y = A1-«KªN1-a Where TFP, A, grows at a rate of g per year and population grows at a rate of п рer year. 1. Derive an expression for the production function per effective worker f(k) = Yt in terms of the ratio of capital per effective worker ki AtNt

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

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