Hi, is there someone could help with this question? need specific solution plz. thanks!
Consider an economyr described by the Solow model, with a Cobb-Douglas production function Y = AK'ILI' a, constant saving rate y and depreciation rate of capital equal to 5. (Note: A is total factor productivity}. A. Find the capital's share of income tr and lahor's share of income [1 - or 3. Write the production function in output per worker y and capital per worker 1: form. [1 points} B. At any point in time, the change in the capital stock is the difference between the amount of investinent and the amount of depreciation. If I repremnts the quantity of investment and D rcprcsents the quantity of depreciation1 then the change in the capital stock is repremnted as ELK. Write and interpret an equation for the evolution of capital per worker. (1 points} (3. Suppose that the fraction of output saved and invested y is 25% and the depreciation rate 5 is 5%. Further, suppose A is 1 and or is Ill. Find the steady state level of capital per worker {1:55) and output per worker (yssj. (2 points] Now suppose, in the Solow growth model the production function given by Y = AK\" {h L)\"' '1] with constant saving rate 1 depreciation rate of capital equal to E and h human capital per worker. D. Repeat part B {2 point}. E. Suppose that the fraction of output saved and invested v is 25%, the depreciation rate 3 is 5% and population growth rate is 4%. Further. suppose h is l, A is l and u is HE. Find the steady state level of capital per worker 1:55 and output per worker y\". (1 points] F. Now, suppose the country's population growth declined from 4% to 2% over the period of 1900 to 2000. Using the expression for the yo, find the impact of this change in population growth on the steady state level of income yss. (1 point) G. Consider the following income distribution in the United states in the year 2009. Quintile 1 st and 3rd 4th 5th Average Household $11,552 $29,257 $49,534 $78,694 $170.844 Income Draw Lorenz curve for this income distribution. What is the relationship between the Gini coefficient and a Lorenz curve? Also indicate how can you (graphically) calculate the Gini coefficient. (2 point)