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Question: 4 a consider an economy with production function yfklvkl...

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4. (a) Consider an economy with - production function Y-F(KL)-VK.L -depreciation of capital-16% -saving rate-24% population growth=2% G) if K-196 and L-100 in the eurent period, find T T andT in the eurent and the next periods. (ii) Find the steady state levels of ^. ^. and (b) Find the answers in (a) ifthe saving rate is changed to 30%. (c) Find the answers in (a) if the production function is changed to Y=F(KL)-1.08.,K·L.
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