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31 Mar 2018
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1. Assume that a country's production function is Y = K1/2L1/2.
a. What is the per-worker production function y = f(k)?
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Assume that the country possesses 40,000 units of capital and 10,000 units of labor. What is Y? What is labor productivity computed from the per-worker production function? Is this value the same as labor productivity computed from the original production function?
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Assume that 10 percent of capital depreciates each year. What gross saving rate is necessary to make the given capital
Please show details, Thanks !!
1. Assume that a country's production function is Y = K1/2L1/2.
a. What is the per-worker production function y = f(k)?
-
Assume that the country possesses 40,000 units of capital and 10,000 units of labor. What is Y? What is labor productivity computed from the per-worker production function? Is this value the same as labor productivity computed from the original production function?
-
Assume that 10 percent of capital depreciates each year. What gross saving rate is necessary to make the given capital
Nestor RutherfordLv2
2 Apr 2018
