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Question #2: The Solow Model [Additional Practice] The economyr of Kuwait can be described by the following set of economic characteristics: Per Worker Production Function;

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Question #2: The Solow Model [Additional Practice] The economyr of Kuwait can be described by the following set of economic characteristics: Per Worker Production Function; 3: = 4k\"'75 Savings rate: 5 = 0.25 Depreciation rate: 5 = 0.12 Population growth rate: n = 0.036 (a) Calculate the following steady-state values. (i) capital per worker (k) (ii) output per worker (3*) (iii) consumption per worker {c} (iv) investment per worker (i) (v) growth rate of output per worker (1:) Calculate the Golden-Rule level of capital per worker. (c) Calculate the savings rate necessary to reach the Golden-Rule level of capital per worker. (d) Calculate the Golden-Rule level of capital per worker. (e) Calculate the savings rate necessary to reach the Golden-Rule level of capital per worker

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