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{"ops":[{"insert":"Consider following information from the Solow model in a continuous time, \ud835\udc9a = \ud835\udfd0\ud835\udc8c"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\ud835\udfd0 \u2212 \ud835\udfd2\ud835\udc8c,"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\ud835\udc8c\u0307 = \ud835\udc94\ud835\udc87(\ud835\udc8c) \u2212 (\ud835\udc88 + \ud835\udc8f + \ud835\udf39)\ud835\udc8c, \ud835\udc9a = \ud835\udc84 + \ud835\udc8a, where \ud835\udc8c ="},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\ud835\udc72"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\ud835\udc68\ud835\udc73"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":", g-is growth of technology, n-is labor force "},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"growth rate, and \ud835\udf39- is rate of depreciation. Answer the following questions-"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"(i) What are the assumptions this production function violates? (1 Mark)"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"(ii) Find out the steady state and golden rule solution of \ud835\udc58"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\u2217"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":", \ud835\udc66"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\u2217"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":", \ud835\udc50"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"\u2217"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"? (2 Marks)"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"(iii) Find out the steady state and golden rule solution of per capita capital, output ratio and "},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"consumption?"},{"insert":"\n"}]}

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