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fConsider the production function used in class, y = Aknhlct a] Derive the steady state values of l: and y. b} Assuming that two countries
\fConsider the production function used in class, y = Aknhlct a] Derive the steady state values of l: and y. b} Assuming that two countries have the same values only for 31,5, and or derive expression for the predicted steady state values of output per worker relative to a benchmark country [assume that to he to the US]. c} Table 1 contains data on investment rates1 population growth rates1 depreciation rates for a few countries. A is the same for both countries. Use the values of human capital per marker [in] you found in the previous question. Calculate the ratio ofth country's steady state I.- and y relative to the US steady state 3; based on part b. Compare your calculations to the actual y ofth country relative to the US [provided in the last column}. \"ma-t- do you find? d} Discuss your findings in {c}
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