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What is the steady-state level of capital per worker

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Reference no: EM131729989

A hypothetical economy can be described by the Solow growth model. Answer the below questions for this economy by using the following information:

Y=√K

saving rate (s) = 0.20

depreciation rate (d) = 0.12

population growth rate (n) = 0.02

a. What is the steady-state level of capital per worker?

b. What is the steady-state level of output per worker?

c. What is the level of steady-state consumption per worker?

d. What is the steady-state level of investment per worker?

Reference no: EM131729989

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