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2.(20 points) An economy has the per-worker production mction 2 yr = 2515 where yr is output per worker and kr is the capital-labor ratio.
2.(20 points) An economy has the per-worker production mction 2 yr = 2515 where yr is output per worker and kr is the capital-labor ratio. The depreciation rate d is 0.15, and the population growth rate It is 0.1. Saving rate is s=0. 18. a. What are the steady-state values of the capital-labor ratio, output per worker, and consumption per worker? b. Repeat Part (a) for a saving rate of 0.08
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