Business, 06.03.2020 19:15, foriegnngal

Consider a closed economy in which the population grows at the rate of 2% per year. The per-worker production function is given as: Bold y equals 4 StartRoot Bold k EndRoot, where y is output per worker and k is capital per worker. The depreciation rate of capital is 18.00% per year. Suppose that households consume 75% of income and save the remaining 25%. There is no government. (Enter all responses as integers or decimals rounded to one place as appropriate.) Households consume 90% of income and save the remaining 10% of income. There is no government. What are the steady-state values of capital per worker, output per worker, consumption per worker, and investment per worker? Suppose that the country wants to increase its steady-state value of output per worker. What steady-state value of the capital–labor ratio is needed to double the steady-state value of output per capita? What fraction of income would households have to save to achieve a steady-state level of output per worker that is twice as high as in Part (

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Consider a closed economy in which the population grows at the rate of 2% per year. The per-worker p...