The growth rate of output per effective worker

Assignment Help Business Economics

Reference no: EM13985862

Suppose an economy’s production function is Y = K1/2 x [AN]1/2 and that the savings rate, s, is equal to 21%, the depreciation rate, d, is equal to 8 %, the number of workers grows at 1.7% and the rate of technological progress is 6% per year, then find the steady-state values of 1) capital stock per effective worker, 2) output per effective worker, 3) the growth rate of output per effective worker, 4) the growth rate of output per worker, and 5) the growth rate of output.

Reference no: EM13985862

Questions Cloud

What is gasoline marginal profit : Given Gasoline production function of QG = 72MG 1.5 MG2, what is gasoline marginal profit?

Some critics of the emissions trading system : Some critics of the emissions trading system have called on eu government to recind a large fraction of the carbon emission permits that they created when the system was first established. How would such an action, which would reduce the supply of th..

Calculate the own price elasticity : The demand for good X has been estimated by QXd =12 - 3PX + 4PY. Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity. Please show steps.

What is meaning of the slope of the two budget constraints : Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, Show in your..

The growth rate of output per effective worker : Suppose an economy’s production function is Y = K1/2 x [AN]1/2 and that the savings rate, s, is equal to 21%, the depreciation rate, d, is equal to 8 %, the number of workers grows at 1.7% and the rate of technological progress is 6% per year, then f..

In the article how racism doomed baltimore : In the article "How Racism Doomed Baltimore," in the New York Times, the author argues that rather than reflecting a history of racial discrimination policies, the problems in Baltimore stem primarily from the actions of a few rogue police officers. ..

Body dysmorphic disorder and cosmetic surgery : How much stigma is there out there towards people with mental health problems Attitudes towards using a Muttawa

Demand for loanable funds for car loans : Suppose that the demand for loanable funds for car loans in the Milwaukee area is $11 million per month at an interest rate of 10 percent per year, $12 million at an interest rate of 9 percent per year, $13 million at an interest rate of 8 percent pe..

Development of crisis intervention : Describe at least 4 stages in the development of crisis intervention (either pre- or post the event of your choosing). Provide detail and examples that illustrates each stage and its purpose

User Account

All Pages