Consider an economy with the following characteristics:                                        Please calculate the steady-state level of Output Per Worker (y*).

Consider the production function used in class, \[ y=A k^{\alpha} h^{1-\alpha} \] (i) (5 points) Write the expressions for the steady state values ofkandyas a functionA,s,n,δ, andα. (ii) (5 points) Assuming that two countries have the same values only forAandα=1/3derive expression for the predicted steady state values of output per worker relative to as a ratio (of country 1 to country 2 ).s,h,δandnare different for the two countries. (iii) (5 points) Consider the data below for Honduras and the US. Calculate steady stateyof Honduras relative to the US. Evaluate your answer.

An economy is described by the following equations:C = 1600 + 0.8(Y – T)I = 1000G = 1800T = 3000 + 0.01 YWhat is the equilibrium level of output in this economy?Group of answer choices7600.57650.48420.59615.4

Suppose an economy has this production equation Y=F(K, L)=K0.4L0.6. The saving rate is 0.2, the depreciation rate is 0.05. Calculate the capital per worker, output per worker, and consumption per worker at a steady state. (Please keep two decimal places.)

In the Solow model, if the output per effective worker function y=, the population growth at a 2% rate, the labour efficiency growth at a 1.5% rate, which of the following is the growth rate of output per worker at steady state?

Consider an economy described by the textbook Solow model with a production function . The economy is producing 100 units of output and the productivity parameter is equal to 1. If the depreciation rate is 6%, the investment rate is 6%, and there are 125 workers, the growth rate of the economy_____:Group of answer choicesis positive because the economy is below its steady state.cannot be determined.is equal to zero because the economy is at its steady state.is negative because the economy is above its steady state.