In the endogenous growth model presented in the text, suppose that u represents the fraction of time spent working (as opposed to accumulating human capital) and b represents the effic accumulation. The growth rate of consumption equals O A. (1-b)(1-u). O B. b(1-u. OC. b(1-u) - 1. O D. 1+b(1 -u).

In the endogenous growth model presented in the text, suppose that u represents the fraction of time spent working (as opposed to accumulating human capital) and b represents the effic accumulation. The growth rate of consumption equals O A. (1-b)(1-u). O B. b(1-u. OC. b(1-u) - 1. O D. 1+b(1 -u).

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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Question

In the endogenous growth model presented in the text, suppose that u represents the fraction of time spent working (as opposed to accumulating human capital) and b represents the efficiency of human cap.
accumulation. The growth rate of consumption equals
O A. (1-b)(1-u).
O B. b(1-u?.
OC. b(1-u) - 1.
O D. 1+b(1 - u).
O E. u(1-b) -1.

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