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61 - /as state Output per worker The growt rate of the 630...

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Unformatted text preview: //as\\ state? Output per worker? The growt rate of the 630:??? Shawl] 535%“? K {outages " f f we Quiz 2 L/ ECOH 420 Name: Max g—la‘ubo!" Quiz 2 ' PID‘ 7:5?ZQS June 23, 2010 . 5—? In order to receive full points, you must Show all work. Suppose that an economy is characterized by the CobheDouglas production function Yt : Iii/215%”. 1. Write the production fu tion in per capita terms. . \ EA: Eé 4, ‘ Kt L s. ' we: \/ )/_ , say M Ina-”M i— hit”; 2. Suppose that the depreciation rate is equal to 5 percent'and the savings rate is equal to E0 percent. What is the steady state level of capital per worker in this economy? E J y? 1%” 551:0 ,2” ﬂ “wharf 4 55 -,, - / -’ 3. What is the steady state level of output per worker? n 3‘wﬁﬂcg z in l 55? ”ﬂ? fry“: 5 {00/ 20 3:1wx 4.' Suppose that the savings rate increases. What will happen to capital per worker in the steady 3 (m¢,c-Lc..SL.§ .s‘ / I . ‘ ﬂ * ' ' 3» 1.7.: k 1"" // 6%ij (1%, I); M '59") was“; expat-“Uta, mart-K50) but” ca: 59 ”“15 bK/ ﬂ/JIKQ {ﬂ Liz.» A” ”Nu m g: kirk/’1'": ...
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