Question: 3. Suppose that the production function is Cobb-Douglas. Suppose that the production function is Cobb-Douglas, f(k) = ka; and the capital accumulation equation characterizing a

3. Suppose that the production function is Cobb-Douglas. Suppose that the production function is Cobb-Douglas, f(k) = ka; and the capital accumulation equation characterizing a Solow model is; K = sY - SK (a) Find expressions for the steady state values of k*, y*, and c* as functions of the parameters of the model, s, n, 8, g, and a. (b) What is the golden-rule value of k? (c) What saving rate is needed to yield the golden-rule capital stock

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The personal characteristics of the sender

The quality of the argumentation

The status rule: We tend to have more confidence in information presented by someone who has a relatively high status and rank in society than by someone who hasnt.