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Problem 1: Over the last 50 years in the US, GDP per person has grown at approximately 1% per year, Whlle capital per person has
Problem 1: Over the last 50 years in the US, GDP per person has grown at approximately 1% per year, Whlle capital per person has been accumulating at around 0.5% per year. Assume a capital share of 0.3. What is the growth rate of the Solow residual? 6 Subscribe to unlock Problem 2: - Write each production function given below in terms of output per person 3,: E Y/L and capital per person k E K / L"; Plot these per person versions in a graph withy on the vertical axis and k on the horizontal axis. ( You can assume A is a constant positive number)
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