You are given the following information regarding Country AAA: Output per capita: y = 3k0.5 Depreciation rate: d = 0.10 Growth rate of population: n = 0.05 Savings function: S = 0.3Y Based on the above information: Calculate the capita labor ration (k) and output per capita at the steady state equilibriu
You are given the following information regarding Country AAA: Output per capita: y = 3k0.5 Depreciation rate: d = 0.10 Growth rate of population: n = 0.05 Savings function: S = 0.3Y Based on the above information: Calculate the capita labor ration (k) and output per capita at the steady state equilibriu
Chapter20: Growth And Less Developed Countries
Section: Chapter Questions
Problem 3SQP
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You are given the following information regarding Country AAA:
Output per capita: y = 3k0.5
Growth rate of population: n = 0.05
Savings function: S = 0.3Y
Based on the above information:
- Calculate the capita labor ration (k) and output per capita at the steady state equilibrium.
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