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D Question 2 1 pts If an economy is described by the Solow-Swan model with the following variables, . E(t) = 1. The saving rate

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D Question 2 1 pts If an economy is described by the Solow-Swan model with the following variables, . E(t) = 1. The saving rate is 0.45 per year. . Labor's share of income is 0.65. . The growth rate of labor efficiency is 0.01 per year. . The growth rate of the labor force is 0.01 per year. . Depreciation is 0.10 per year. calculate the steady-state value of the capital-to-labor ratio, K/L. (Enter your answer to two places after the decimal. If you answer is 12.34%/year then enter 12.34)

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