6. Consider a closed economy in which the population grows at the rate of 1% per year....
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6. Consider a closed economy in which the population grows at the rate of 1% per year. The per-worker pro- duction function is y = 6Vk, where y is output per worker and k is capital per worker. The depreciation rate of capital is 14% per year.
a. Households consume 90% of income and save the
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Related Book For 
Macroeconomics Plus Myeconlab With Pearson Global Edition
ISBN: 377221
9th Canadian Edition
Authors: Andrew B. Abel ,Ben Bernanke ,Dean Croushore
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