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

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Chapter20: Growth And Less Developed Countries
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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:

  1. Calculate the capita labor ration (k) and output per capita at the steady state equilibrium.
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