Consider an economy with the following parameters: a =0.5 s=0.6 , savings/investment rate d=0.04, rate of depreciation of capital n=0.04, population growth rate g=0.03, growth rate of A h = 3, human capital The economy is currently at steady-state and the value of A is equal to 1000. What is the value of output per worker y in 10 years from now? Enter your answer as the nearest whole number without commas.

Consider an economy with the following parameters: a =0.5 s=0.6 , savings/investment rate d=0.04, rate of depreciation of capital n=0.04, population growth rate g=0.03, growth rate of A h = 3, human capital The economy is currently at steady-state and the value of A is equal to 1000. What is the value of output per worker y in 10 years from now? Enter your answer as the nearest whole number without commas.

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 1P

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