In the Solow growth model without population growth and technological progress, consumption per worker will be maximized in the steady state when: (1) Output per worker is maximized. (ii) Investment per worker is maximized. (iii) The marginal product of capital equals the depreciation rate. Oa (1), (i), and (iii) O b. Only () O c. Only (ii) Od. Only (1)
In the Solow growth model without population growth and technological progress, consumption per worker will be maximized in the steady state when: (1) Output per worker is maximized. (ii) Investment per worker is maximized. (iii) The marginal product of capital equals the depreciation rate. Oa (1), (i), and (iii) O b. Only () O c. Only (ii) Od. Only (1)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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