plz details Suppose the per-worker production function is y=k0.5. Rate of depreciation () is 0.05 .
1. (3 points) Calculate the golden steady state of capital per worker kgold ? 2. (2 points) What is
the golden steady state of savings sgold ? 3. (4 points) Suppose in this economy, steady state of
capital per worker is k is 150 . Should the government pursue policy to increase or decrease the
savings rate to maximize consumption? Use a graph to explain. 4. (6 points) In a graph with time
on the x axis, show the transition of output per worker (y), consumption per worker (c) and
investment per worker (i) to the new steady state from k=150 to kgold..
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plz details Suppose the per-worker production function is y=k0.5. .pdf
1. plz details Suppose the per-worker production function is y=k0.5. Rate of depreciation () is 0.05 .
1. (3 points) Calculate the golden steady state of capital per worker kgold ? 2. (2 points) What is
the golden steady state of savings sgold ? 3. (4 points) Suppose in this economy, steady state of
capital per worker is k is 150 . Should the government pursue policy to increase or decrease the
savings rate to maximize consumption? Use a graph to explain. 4. (6 points) In a graph with time
on the x axis, show the transition of output per worker (y), consumption per worker (c) and
investment per worker (i) to the new steady state from k=150 to kgold.
