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consider a closed economy in which the population grows at the rate of 2% per year. the depreciation rate of capital is 10% per year.
consider a closed economy in which the population grows at the rate of 2% per year. the depreciation rate of capital is 10% per year. The saving rate is 10% The per-worker production function is Yt=4.8Kt^0.5, where y is output per worker and k is capital per worker. The steady state growth rate of output per worker is equal to?
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