What is the steady-state value of capital-labor ratio

Reference no: EM13182129

A country has the per-worker production function, y=5k1/2, where y is the output per worker and k is the capital- labor ratio. The depreciation rate is 0.15 and the population growth rate is 0.05. The saving function s=0.2Y where s is total national saving and Y is the total output.

a. what is the steady-state value of capital-labor ratio?

b what is the steady-state value of output per worker?

c. what is the steady-state value of consumption per worker?

Reference no: EM13182129

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