Question: Please answer the question carefully Consider the Solow growth model without population growth or technological change. The parameters of the model are given by s

Please answer the question carefully

Please answer the question carefully Consider the Solow growth model without population

Consider the Solow growth model without population growth or technological change. The parameters of the model are given by s = 0.2 (savings rate) and 6 = 0.1 (depreciation rate). Let k denote capital per worker; y output per worker; c consumption per worker; i investment per worker a) Rewrite production function Y=K1/3 12/3in per-worker terms. b) Find the steady-state level of the capital stock. c) What is the "golden rule" level of k for this economy? Recall that the golden rule level of the capital stock maximizes consumption per worker in steady-state. Report your answer to two decimal places. d) What is the associated savings rate that corresponds to the "golden rule" level of k found in (c)? e) Compare your result in the previous part with the assumed savings rate s=0.2. To obtain the "golden rule" level of k, do citizens need to save more or less

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