Consumption Per Worker Is 72, Depreciation Is 12

question 74

Essay

Consumption per worker is 72, depreciation is 12.5%, and capital per worker is 64. Given the production function y = 20k1/3, show that this economy is in a steady state. If the saving rate should double, what is the new steady-state level of consumption per worker?

---

Definitions:

Product Claims

Statements made by a company about the benefits, features, or performance of their product, which can influence consumer perceptions and decisions.

Survey Results

Survey results are the data and insights gathered from responses to questions posed in a survey.

Indirect Suggestion

A statement by the salesperson recommending that the prospect undertake some action while making it seem that the idea to do so is the prospect’s.

Pallets of Ice Cream

Large, flat transport structures loaded with multiple packages or containers of ice cream, used for efficient handling and storage.