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Explain what determines the golden rule quantity of capital per worker and the golden rule savings rate These occur where (labour growth, the savings rate,
Explain what determines the golden rule quantity of capital per worker and the golden rule savings rate
These occur where (labour growth,
the savings rate,
the marginal product of capital,
consumption per worker,
total factor productivity)
is
(maximized or
minimized)
and are determined by the point where
(labour growth,
the marginal product of capital,
total factor productivity,
consumption per worker,
the savings rate)
equals (equals what?)
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