{"id":124542,"date":"2022-01-28T16:22:30","date_gmt":"2022-01-28T16:22:30","guid":{"rendered":"https:\/\/essayparlour.com\/custom-essays\/?p=124542"},"modified":"2022-01-28T16:22:30","modified_gmt":"2022-01-28T16:22:30","slug":"both-population-and-the-workforce-grow-at-the-rate-of","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/custom-essays\/business-economics-2\/both-population-and-the-workforce-grow-at-the-rate-of\/","title":{"rendered":"Both population and the workforce grow at the rate of"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>Both population and the workforce grow at the rate of n = 1% per year in a closed economy. Consumption is C = 0.5(1 &#8211; t)Y, where t is the tax rate on income and Y is total output. The per-worker production function is y = 8?c, where y is output per worker and k is the capital labour ratio. The depreciation rate of capital is d = 9% per year. Suppose for now that there are no government purchases and the tax rate on income is t = 0.<br \/>\n a. Find expressions for national saving per worker and the steady-state level of investment per worker as functions of the capital-labour ratio, k. In the steady state, what are the values of the capital-labour ratio, output per worker, consumption per worker, and investment per worker?<br \/>\n b. Suppose that the government purchases goods each year and pays for these purchases using taxes on income. The government runs a balanced budget in each period and the tax rate on income is t = 0.5. Repeat part (a) and compare your results.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\nBoth population and the workforce grow at the rate of n = 1% per year in a closed economy. Consumption is C = 0.5(1 &#8211; t)Y, where t is the tax rate on income and Y is total output. The <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-124542","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/comments?post=124542"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124542\/revisions"}],"predecessor-version":[{"id":124543,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124542\/revisions\/124543"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/media?parent=124542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/categories?post=124542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/tags?post=124542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}