Calculate the actual ratio of gdp per worker

Reference no: EM132478553

Question 1: The following tables show data on investment rates and output per worker for three pairs of countries. For each country pair, calculate the ratio of GDP per worker in steady state that is predicted by the Solow model, assuming that all countries have the same values of A and d and that the value of a is 1/3. Then calculate the actual ratio of GDP per worker for each pair of countries. For which pairs of countries does the Solow model do a good job of predicting relative income? For which pairs does the Solow model do a poor job?

a. Investment Rate Output per Worker Country (Average 1975-2009) in 2009

Thailand 35.2% $13,279

Bolivia 12.6% $8,202

b. Investment Rate Output per Worker Country (Average 1975-2009) in 2009

Nigeria 6.4% $6,064

Turkey 16.3% $29,699

C. Investment Rate Output per Worker Country (Average 1975-2009) in 2009

Japan 29.9% $57,929

New Zealand 18.6% $49,837

Reference no: EM132478553

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