An economy has a CobbDouglas production function: Y = K(LE)1'- The economy has a capital share of 1/3, a saving rate of 20 percent, a
An economy has a CobbDouglas production function: Y = K(LE)1'\"- The economy has a capital share of 1/3, a saving rate of 20 percent, a depreciation rate of 5 percent, a rate of population growth of 2 percent, and a rate of labor-augmenting technological change of 1 percent. In steady state, capital per effective worker is: 06 01.6 O4 01
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