ssume a Cobb-Douglas production function, where © =0.5 and A = 1. If AN/N = 0.06, d = 0.04, and s = 0.2, what is the steady state value of capital per capita ??
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Assume a Cobb-Douglas production function, where © =0.5 and A = 1. If AN/N = 0.06, d = 0.04, and s = 0.2, what is the steady state value of
capital per capita
??
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- Please no written by hand Yt = 3Kt saving rate= 0.24 depreciation ratre=0.03 but savings rate, depreciation rate, and population remain the same.(d) What is the per-worker production function, yt = f(kt)? Define yt = YtLt.(e) Find the equation for the evolution of capital per worker in terms of ktand kt+1If GDP is expected to increase at a steadyrate of 3% per year, how many yearswould it take for living standards todouble?a. 10b. 20c. 24d. 30Question 2 Calculate new HDI for Egypt using the given actual values from Egypt: Actual life expectancy at birth: 73.5 Mean years of schooling: 6.4 Expected years of schooling: 12.1 GNI per capita: 5,401 How would you classify Egypt based on the NHDI you found? Click on reveal once you are done calculating NHDI (0.662) Full explain this question and text typing work only thanks
- 2. An economy has a production function:Yt = 3(squaredKt)(squaredLt). The economy has a saving rate of 24 percent, a depreciation rate of 3 percent,and Lt = 1 for all period (no population growth). There is no technologicalprogress. (a) What is the per-worker production function, yt = f(kt)? Define yt =YtLtand kt =KtLt.(b) Find the equation for the evolution of capital per worker in terms of ktand kt+1. (c) Find the long-run growth rate of output per worker. Now the economy has the following production function:Yt = 3Kt but savings rate, depreciation rate, and population remain the same. (d) What is the per-worker production function, yt = f(kt)? Define yt =Yt/Lt (e) Find the equation for the evolution of capital per worker in terms of ktand kt+1. (f) Find the long-run growth rate of output per worker. (g) Explain why the economy with production function (2) explain persistent growth without the assumption of exogenous technologicalprogress. How does this differ from the economy…If real GDP for 2009 is $6400 billion (in 2012 dollars) and nominal GDP for 2010 is $6/20 billion, then the growth rate of real GDP ix Select one a .5% b.0.5% c unknown based on the given information d. 0%.Over the past century, real GDP per person in the United States has grown about _____ percent per year, which means it doubles about every ______ years.a. 2, 14b. 2, 35c. 5, 14d. 5, 35
- Whichof the following is/are mismatched?a.rmax = intrinsic rate of increaseb.K = carrying capacityc.Nt = annual growth rated.t = time intervale.dN/dt = rate of population changeC I G NX Price Yr1 1000 156 560 52 4 Yr2 1300 159 600 52 5 Yr3 2000 169 690 53 6 Yr4 2900 180 880 53 7 -What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers) -State how long it will take for real GDP to double in size.J 7 Given a production function Yt = AKt1 /3L2 /3 , if K0=8, A = 2, L = 4, s = 0.2, and d = 0.05: (a) Calculate the steady-state level of capital and output. (b) Calculate K1 , I 1 , Y1 and C1 .
- Parameters Equations s =0,20 marginal propensity to save Y=WKr.L1-r Production Function u=0,02 Population growth rate K.=s.f(k)−aK Capital Accumulation b=0,04 Technological growth rate L./L= ? Population Growth a=0,05 Depreciation rate W./W=b Technological Progress S=s.f(k) Savings a. Find steady-state level of capital per effective labor: k* b. Draw a graph and show output function, actual investment and breakeven investment lines. c. Assume that in this economy, people start spending more and therefore marginal propensity to save decline permanently. What will happen to variables in the model (steady-state level capital per effective labor; output growth etc.). d. Instead of reduction in saving assume this time that we face lower fertility rate in the country. What will happen to variables in…Say that the average worker in Canada has a productivity level of $30 per hour while the average worker in the United Kingdom has a productivity level of $25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1% per year while worker productivity intheUKgrows3%peryear.Afterfiveyears,whowill have the higher productivity level, and by how much?Forecasts for Sa’s economic growth rate have been droppingconsistently in 2023, from 1.2% year on year at the start of thefirst quarter to 0.7% in March, 0.6% in April and now 0.4% inthe outcome of the May survey (all Bloomberg).A more recent survey from Reuters in May places the outlookfor economic growth even lower, at 0.2% for 2023.Market perceptions of the global outlook have also dimmed, withChina’s economic recovery proving weaker than anticipatedafter its 2022 lockdowns, as recent production data disappoints,including that on household spending, investment and tradeactivity.Global trade defragmentation is also weakening sentiment, withrisks of limitations on trade competitiveness growing. Theseconcerns, along with US recession fears and disappointment overChina’s ability to lead the global economy stronger in 2023, haveweakened sentiment, reflecting in the recent fall in oil prices.Markets had expected a ramp-up in economic activity in Chinain the second quarter, but has also…
