hw2 - Homework 2(Due September 13 1[page 5 3 NQ 1(a b...

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Homework 2 (Due September 13) 1. [page 5, 3] NQ 1 (a, b). 2. [page 5, 3] NQ 3 (b, c). (For b, the wage rate is the marginal product of labor. For c, you can ignore the hint but simply double capital and double labor.) 3. [page 5, 3] NQ 4 (a, b, c). 4. [page 6, 3] NQ 5. 5. [page 6, 3] AQ 1. 6. [page 7, 3] AQ 3 (a, b). 7. Refer to the example in page 10 of Formulas2. Let
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Unformatted text preview: A = 8 but maintain other parameters. (1) Compute k t for t from 0 to 4. (2) Compute y t for t from 0 to 4. (3) Compute the growth rate of y at t for t from 1 to 4. (The growth rate of y at t is ( y t /y t − 1 ) − 1 ). (4) Compute k ∗ ( k in the steady state). 1...
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