What is the value of real gdp-worker at that state

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Reference no: EM13186157

With the assumption that A=1, and the share of labor in the national income is 1/2. Also K=120 million dollars and L= 10 million units and saving rate = 35% and the depreciation rate is 10%.

1. How many periods it will take this economy to reach the steady state?

2. What is the value of real GDP/worker at that state?

3. What is the level of consumption at that state?

4. What do you think happend to the standard of living in that economy? Why?

Reference no: EM13186157

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What is the value of real gdp-worker at that state : With the assumption that A=1, and the share of labor in the national income is 1/2. Also K=120 million dollars and L= 10 million units and saving rate = 35% and the depreciation rate is 10%. How many periods it will take this economy to reach the ..

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