Consider an economy with fixed land T that is constant over time. Production is given by:AKTBL1-a-ßY =Population grows at a rate n and productivity A grows at a rate equal to g. That is, Ĺ = nL andÀ = gA. Capital accumulates as Ø = I – SK with I = yY. These are assumptions typical of theKSolow model. Which of the following equations show the evolution of capital per capita?:k0 /= y ( ² ) - (n + 8)4 = yA (²) - (n + 8)= y( ²) - (n + 8)=yA (²) - (n+8)= 7A(²/1)ª − (n + 8)22.1212 •2/12 12/12α8

The Solow growth model explains economic growth using a production function and capital accumulation…

Answered: Which of the following equations show…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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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 step
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Suppose that the per hour worked form of the production function for an economy is given by y = 10k03 The depreciation rate is 11%, the saving rate is 21%, and the growth rate of labor hours is 7%. The steady-state capital-labor ratio for this economy is (Round your response to two decimal places.)
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for only answer part d.
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate rate. - Inflation rate – Population growth This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation is both easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists a fictional country's nominal GDP, real GDP, GDP deflator, and population over two years. Year 2019 2020 Nominal GDP $1,100,000 $1,200,000 GDP deflator 100 102 Real GDP (2019 dollars) $1,100,000 $1,176,471 Population 1,000 1,005 a. Verify that the real GDP values in the above table are accurate. Instructions: Round your answers to one decimal place. b. This country's real GDP per capita for 2019 is $ This country's real GDP per capita for 2020 is $ c. The growth rate in this country's real GDP per capita…
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Which of the following equations show the evolution of capital per capita?: ○ = y( ² ) - (n+8) O=A() (n + 8) = y() −(n+8) 0 ₁ = yA (4) - (n + 8) ²/2 = 7A ( ² )a – (n + 8) 0 O •12/152.2/52 12/12 12/2