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if an economy is described by the Solow-Swan model with the following variables, E(t)=1, the saving rate is 0.41 per year, labor's share of income
if an economy is described by the Solow-Swan model with the following variables,
E(t)=1,
the saving rate is 0.41 per year,
labor's share of income is 0.44,
the growth rate of labor efficiency is 0.03 per year,
the growth rate of the labor force is 0.02 per year,
depreciation is 0.09 per year,
calculate the steady-state value of the capital-to-labor ratio, K/L.
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