question archive If y = k1/2, the country saves 20 percent of its output each year, and the steady-state level of capital per worker is 16, then the steady-state levels of output per worker and consumption per worker are? a) 2 and 1
If y = k1/2, the country saves 20 percent of its output each year, and the steady-state level of capital per worker is 16, then the steady-state levels of output per worker and consumption per worker are? a) 2 and 1
Subject:EconomicsPrice: Bought3
If y = k1/2, the country saves 20 percent of its output each year, and the steady-state level of capital per worker is 16, then the steady-state levels of output per worker and consumption per worker are?
a) 2 and 1.6, respectively.
b) 2 and 1.8, respectively.
c) 4 and 3.2, respectively.
d) 4 and 3.6, respectively.
If the marginal product of capital net depreciation equals 8 percent, the rate of growth of population equals 2 percent, and the rate of labor-augmenting technical progress equals 2 percent, to reach the Golden Rule level of the capital stock, the ____ rate in this economy must be _____.
a) saving; increased
b) population growth; decreased
c) saving; decreased
d) population growth; increased
If Y = K0.2L0.8, then the per-worker production function is:
a) Y = F(K / L).
b) Y / L = (K / L)0.2.
c) Y / L = (K / L)0.6.
d) Y / L = (K / L)0.8.
