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What are the steady state value of output per worker

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Reference no: EM132639997

Brazil has the following per-worker production function:y=4k^0.05 Population growth rate is 0.04, depreciation rate is 0.03. S= national saving and Y is national output where S=0.4Y.

  1. What are the steady state value of output per worker, capital-labour ratio and consumption per worker?
  2. If national saving increases to 0.5, what are the values of output per worker, capital-labour ratio and consumption per worker?
  3. If the depreciation rate increases to 0.04, what are the values of output per worker, capital-labour ratio and consumption per worker?

Reference no: EM132639997

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