Question
A model without population growth and technological change, show that the growth rate of aggregate output(Y), per-capita output ( y= Y/L), and capital labor ratio
A model without population growth and technological change, show that the growth rate of aggregate output(Y), per-capita output ( y= Y/L), and capital labor ratio (K/L), and aggregate capital (K) are all zero in the long run.
Please explain clearly with short paragraphs."No copy paste"
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International Business Competing in the Global Marketplace
Authors: Charles W. L. Hill
11th edition
1259578119, 978-1259578113
