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6. The countrys aggregate production function in per-worker terms is given by y = v'7. depreciation rate is 0.02. The investment rate is determined
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6. The countrys aggregate production function "in per-worker terms" is given by y = v'7. depreciation rate is 0.02. The investment rate is determined as follows The a. b. C. 0.2 if 0.4 if y > 10 Draw a diagram showing the steady state(s) Of this model. Calculate the steady-state value(s) of k and y. Indicate on the diagram and describe briefly in words how the levels of k and y behave outside Of the steady state(s). Comment briefly on the stability of the steady state(s).
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