The per-worker production function
Webb12. If the per-worker production function is given byy=k1/2, the saving ratio is 0.3, and the depreciation rate is 0.1, then the steady-state ratio of capital to labor is:A) 1. B) 2. C) 4. D) 9. b. 2 . At steady state level of capital the investment is equal to the rate of depreciation. 13. WebbIn equation [1], the right hand side is the per worker production function multiplied by the savings rate; the left hand side is an equation for a line with slope (n+d). STEADY STATE ANALYSIS (2) Graphically, to determine k we match …
The per-worker production function
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Webbthe production function y = f (k) means: A) labor is not a factor of production. B) output per working is a function of labor productivity. C) output per worker is a function of capital …
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