Now country A has production function fA(k) = 6k05 while country B has production function fg (k) = 4k0.5. Country A has saving rates of 0.2, depreciation rates of 0.2 but %3D population growth of 0.6. Country B has saving rates of 0.1, depreciation rate of 0.15 and population growth of 0.05. d. Find the steady state capital-labor ratio for each country. e. Find the steady state output per worker, and the steady state consumption per worker е. for each country. Which country produces the most per capita? Which country consumes the most per capita? f.

Now country A has production function fA(k) = 6k05 while country B has production function fg (k) = 4k0.5. Country A has saving rates of 0.2, depreciation rates of 0.2 but %3D population growth of 0.6. Country B has saving rates of 0.1, depreciation rate of 0.15 and population growth of 0.05. d. Find the steady state capital-labor ratio for each country. e. Find the steady state output per worker, and the steady state consumption per worker е. for each country. Which country produces the most per capita? Which country consumes the most per capita? f.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Solution for the Sub questions

Now country A has production function fA(k) = 6k05 while country B has production
function fg (k) = 4k0.5. Country A has saving rates of 0.2, depreciation rates of 0.2 but
%3D
population growth of 0.6. Country B has saving rates of 0.1, depreciation rate of 0.15 and
population growth of 0.05.
d. Find the steady state capital-labor ratio for each country.
e. Find the steady state output per worker, and the steady state consumption per worker
е.
for each country.
Which country produces the most per capita? Which country consumes the most per
capita?
f.

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