0, show the step by step derivation of thefundamental equation of growth (using per worker capital, k)c. Find the steady-state values of capital per labor (kss), output per labor (yss)...

Extracted text: ECO 4218 – Economics of Growth Solow Model Exercise Suppose that the production function of an economy is characterized by the following Cobb- Douglas production technology Y = AK“L²-«, where Y is the aggregate output, A is the level of technology, K is the capital stock, L is the labor and 0 < a="">< 1.="" a.="" express="" the="" production="" function="" in="" per="" worker.="" b.="" assuming="" closed="" economy="" with="" no="" government,="" a="1," labor="" growth="" rate="" being="" constant="" (gl)="" and="" depreciation="" rate="" is="" positive="" 8=""> 0, show the step by step derivation of the fundamental equation of growth (using per worker capital, k) c. Find the steady-state values of capital per labor (kss), output per labor (yss) and consumption per labor (Css). Note: Take kss = 0 as given, you don't have to show that it is %3D true. d. What would be the effect of s, 91, 8 and a on yss? e. What is the golden rule of saving rate? Hint: Use css you found on part (c) f. Find steady-state values of k ss, Yss and css if s = 0.2, gı = 0.01, a = 0.5 and 8=0.04