You know the Cobb-Douglas production function in per-worker terms is: f(k)=Ak. And the steady-state level of output per worker given the effect of population growth is: A(-a)(_)(1-a). Suppose there are two countries of i and j that have the same values for A (productivity parameters), (which measures the fraction of output that is invested), and 8 (which measures depreciation). Let n; and n; denote their growth rates of population (n; # nj). 1) Write the equation for the steady state levels of output per worker in each country. 2) Write the expression for the ratio of steady-state income in country i to steady state income in country j. 3) If = 5%, a= 1/3, n₁ = 0% and n; = 4%, then calculate the ratio of steady-state income in country i to steady-state income in country j.

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you know the cobb douglas production function in per worker terms is f

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You know the Cobb-Douglas production function in per-worker terms is: f(k)=Ak. And the steady-state level of output per worker given the effect of population growth is: A(-a)(_)(1-a). Suppose there are two countries of i and j that have the same values for A (productivity parameters), (which measures the fraction of ou