According to the more general approach to the Harrod Domar model that includes depreciation, if growth is the Y-axis and rates of depreciation is plotted on the X-axis, we would see a [Select] that an increase in the rate of depreciation would lead to [Select] equal. growth rates, all
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![According to the more general approach to the Harrod Domar model that includes depreciation, if growth is
the Y-axis and rates of depreciation is plotted on the X-axis, we would see a
[Select]
that an increase in the rate of depreciation would lead to
[Select]
equal.
growth rates, all](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc3133e9f-c470-42b9-9f2b-0d53316256c5%2F36f8476c-197e-442d-918f-efe77931306d%2Fxwf0ich_processed.jpeg&w=3840&q=75)
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- Derive the steady state level of capital K*, output Y* and output per capita y* in terms of model parameters (A, 3, L, d, a). Below is the solution Pls explain step by stepConsider the Solow model (Y-AK1/4L3/4). Suppose that the productivity parameter is A=500, the depreciation rate is d=1/10, the savings (investment) rate is s=0.30, and the labor force is constant and equal to 2 million. ÊÊWhat is the steady state capital stock (K)? Please choose the closest answer." a. b. 48200 million C. 34341 million d. 15930 million 18340 million1. Suppose that the aggregate production function in the Solow-Swan model has the Cobb- Douglas form, y = ka. Also, assume a = 0.35, saving rate s = 15%, population growth n = 5%, technology growth g = 10%, and no depreciation ổ = 0%. (a) Show that f'(k) > 0, f"(k) < 0, and the Inada conditions limp-of"(k) = o and limz f'(k) = 0 are satisfied. (b) What are the numerical steady-state values of y* and e*? Show your workings. (c) Why is the steady state unique? (d) Assume labour and capital are paid their marginal products and the economy is on a balanced growth path at time t = 0: i) What is the real wage w(0) if A(0) = 1? ii) What is the growth rate of wages w/w along the balanced growth path? iii) What is the return to "working" capital r? iv) What are the shares of income going to capital and to labour? v) If the depreciation rate were positive (e.g., 6 = 10%), explain what would hap- pen to the return to "working" capital r and the shares of income going to (both "working" and…
- 4) In the Solow model, suppose that Y AK0.5 N0.5, N grows at 2% per year, A=1, the depreciation rate d-D0.1 and s-0.2 What is the growth rate of output in the long run? a) 1% b) 0.5% c) 2% d) output stays at a steady state forever %3DOnly c & d is needed, please explain in-depth and in simple terms thank uThe Solow model: Y=AKAL(1-a); S=I=sY; Kt+1=(1-0)K+ + I; Kss = (sA/0)1/(1-a)L; Y=C+I; Kss = (sA/8)1/(1-a) Given: A=2, K=27, L=8, d = 0.10, s=0.20, a=1/3 Find output Y. O A. 17.4 B. 49.7 O C. 38.0 D.24
- In a Malthusian model the production function is described in the following form: Y-6LN00 where Lis the quantity of land and N is the quantity it labour employed. Population growth depends on per capita consumption as N/N-04(C/Nya.1, Calculate the steady state value of consumption.Consider a country with production function unction ? = 5? 1/2, where y is the output per worker and kis capital per worker. Suppose the investment in capital occurs at a rate of 35% of income perworker every period, the depreciation rate is 1.5% and the population growth rate is 2%. Use excel toplot the production function, investment line and capital depletion line with k on the x-axis (usethe attached spreadsheet to draw your graphs).a. What is the steady state level of y and k.b. Suppose TFP increases by 20%. What happens to the steady state y and k?c. Suppose the investment rate increases to 40%. What happens to the steady state y and k?I need assitance with part b) and d) answers are provided and arecorrect.
- A5Predicting steady states and growth rates: Consider the data in the table below (You may find it easier to answer these questions using a spreadsheet program.) (a) Assuming no differences in TFP (ignore the last column) or the rate of depreciation across countries, use the data in the table to predict the ratio of per capita GDP in each country relative to that in the United States in steady state. (b) Now do the same exercise assuming TFP is given by the levels in the last column. Discuss briefly the differences you find in these two approaches. (c) Based on the numbers you find with the TFP differences, compute the percentage gap between the steady-state income ratio and the ratio in 2010 (as shown in the table). Use the actual 2010 ratio in the denominator. (d) Apply the principle of transition dynamics to rank the countries in order of expected growth rate over the coming decades, from fastest to slowest.Logarithms are especially useful for comparing series with two divergent scales since 10 percent growth always looks the same, regardless of the starting level. When absolute levels matter, the raw data are more appropriate, but when growth rates are whats important, log scales are better.