Question: Consider a Solow model where the aggregate production function is F{K, L) = zKL1-, where lI] 0, capital depreciata at the rate 6, and there

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Consider a Solow model where the aggregate production function is F{K, L) = zKL1-, where lI] 0, capital depreciata at the rate 6, and there is an exogenous saving rate of s. Derive the intensive form of the production function. Calculate the steady state capital per capita. Derive the total capital income and total labor income in the steady state. Calcu- late the steady state growth rates of total capital income and total labor inoome. Derive the rental price of capital and the real wage. Calculate What are the steady state growth rates of real rental price of capital and the real wage. Calculate the Golden-rule steady state saving rate
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