What is the steady-state value of output per worker

Reference no: EM13182136

A country has the per-worker production function, y=5k^1/2, 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: EM13182136

Questions Cloud

Explain compound has the larger dipole moment : For each alkene, indicate the direction of the dipole moment. For each pair, determine which compound has the larger dipole moment. a) cis-1,2-difluoroethene and trans-1,2-difluorothene

Determine the present cost of owning and operating the gps : A geomatics engineer wants to purchased a highly accurate GPS surveying system. The unit costs $36,000, has a useful life of 5 1/2 years, and can be sold at the end of its life for $3,000. In addition, a maintenance and supplies payment of $1500 w..

Prevailing or competing philosophical perspectives at work : "identify 2 prevailing or competing philosophical perspectives at work during the 20th century. Provide an overview of each of the philosophies-where it arose, who created it, and its major tenets.

Describe the large difference in the ease of elimination : Predict the products of their eliminations, and explain the large difference in the ease of elimination.

What is the steady-state value of output per worker : A country has the per-worker production function, y=5k^1/2, 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=..

Herbal or nutrient drug interactions : Have you come across questions or concerns about herbal or nutrient drug interactions? Think of an example of yourself, or someone you know. How were your questions or concerns addressed? Did you find reliable information? Where, in your experience, ..

Find the probability that sample standard deviation is less : In a large city it was found that summer electricity bills for single-family home followed a normal distribution with standard deviation $100. A random sample of 25 bills was taken. a. Find the probability that the sample standard deviation is less..

Animal experimentation-outsourcing and media violence : Select one of the topics below and read both articles that present opposing sides of the argument surrounding that topic. o Animal experimentation o Outsourcing o Media violence Answer the following questions in paragraphs of approximately 100 words ..

If firms collude what is the profit of each firm : Assume a duopoly and let demand be given by P=A-BQ. In addition, let both firms have the same marginal cost c. The interaction between the two firms will be repeated infinitely. Both firms play a grim trigger strategy: they collude and play the co..

User Account

All Pages