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ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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6. Complete the following table: Solow model country A country B 5% population growth rate capital depreciation rate national saving rate total population in year 1 total capital in year 1 5% 5% 5% 5% 5% 100 361 16 100 Production Process: total output in year 1 total investment made in year 1 total output in year 2 growth rate for total output Steady State: steady state capital intensity capital intensity in year 1 capital intensity will increase or decrease in year 2 growth rate for per capita output
Transcribed Image Text:6. Complete the following table: Solow model country A country B 5% population growth rate capital depreciation rate national saving rate total population in year 1 total capital in year 1 5% 5% 5% 5% 5% 100 361 16 100 Production Process: total output in year 1 total investment made in year 1 total output in year 2 growth rate for total output Steady State: steady state capital intensity capital intensity in year 1 capital intensity will increase or decrease in year 2 growth rate for per capita output
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