What can you say about new steady state

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Suppose that country A is now at steady state. There is a one-time increase in population. All other factors are unchanged. Illustrate in the diagram how the country will move toward the steady state. (b) Suppose that technology of country B improves, but the capital now depreciates at a faster rate. What can you say about the new steady state? Illustrate your answers in a diagram. (c) Suppose both country C and country D are now in steady state. Yet country D has a higher output per capita. Give three reasons to explain why country D has a higher output per capita. (d) Suppose the production function of country E shows an increasing return to capital. What can we say about the steady state of output per capita of country E?

Reference no: EM131174064

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