1. Suppose that the production function for Sevillia can be represented as Y=F (K, L) =5...

1. Suppose that the production function for Sevillia can be represented as Y=F (K, L) =5 K2/3L1/3 Assume the rate of growth of population is 20%, the saving rate is s = 0.2 and that depreciation rate is 10%. Determine the production function per worker. ( 2 marks) Calculate the steady-state capital stock per worker, output per work er, and consumption per worker. ( calculate to 2 decimal places) ( 3 marks) Illustrate the impact of implementing the policy of one child per household to reduce population growth on the steady state capital stock per worker (k*) with the use of a well labeled diagram. ( 3 marks) Suppose the Statistical Institute of Wakandan (STATINWa) interviews 200,000 people in its monthly survey; 95,000 are not in the labour force, 85,000 are employed, 5,000 are unemployed, and 15,000 are retired. What is the unemployment rate that STATINWa announces?

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THATS IT....

Rahul Sunny answered 1 year ago

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