Assume that a countrys production is y l05k05 capital, Business Economics

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Assume that a countrys production is y l05k05 capital

Assume that a country's production is Y = L^0.5K0.5. Capital lasts 20 years. Savings rate is 20%. How much is capital per worker in steady state?

a) How much is output per worker in steady state?

b) How much is consumption per worker in steady state?

c) How much is the golden rule capital stock?

d) What is the savings rate consistent with the golden rule capital stock?

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Business Economics: Assume that a countrys production is y l05k05 capital

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Business Economics: Assume that a countrys production is y l05k05 capital

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