Business, 13.07.2021 15:50 1232444553

Suppose the production of a country is Y equals K to the power of 0.2 end exponent (E L )to the power of 0.8 end exponent. And its depreciation rate is 0.07, population growth rate is 0.02, technology growth rate is 0.01, saving rate is 0.30. Required:
a. What is the long-run growth rate of per worker output?
b. What is the long-run growth rate of aggregate output?

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Suppose the production of a country is Y equals K to the power of 0.2 end exponent (E L )to the powe...

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