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All the numbers/stats in this problem are here no additional information is needed. India's GDP (in trillions of dollars) follows the production function Y =

All the numbers/stats in this problem are here no additional information is needed.

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India's GDP (in trillions of dollars) follows the production function Y = AKO where A=5.7 and a =0.41 The investment rate is 0.37 and the depreciation rate is 0.11. Currently India has a capital stock of Ko = 1 trillion dollars. What will be the percentage increase in India's GDP in the long run? Calculate the percentage increase in GDP relative to Year 0. Enter your answer in percentage points, e.g. "10.3" to imply GDP will grow by 10.3% in the long run. Round your answer to the nearest 2 decimal places. Hint: In the long run, GDP converges to its steady state

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