What is the growth rate of output per person in economy

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Reference no: EM13851883

Now suppose the parameters of the model take the following values

A0 = 100,

l = .06

z= 1/3000

L = 1000

a. what is the growth rate of output per person in this economy?

b. what is the initial level of output per person? What is the level of output per person after 100 years?

c. now consider the following changes one at a time doubling of the initial stock of knowledge A0

douvling of the research share l

doubling of population L

how would your answer to parts a and b change in each case?

d. if you could advocate one of the changes considered in part c, which would you choose?

write a paragraph arguing for your choice

Reference no: EM13851883

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