Question
In an OLG model with money: Each gen picks 12 banans when young, 0 bananas when old. Central bank prints out 2 units of money,
In an OLG model with money:
Each gen picks 12 banans when young, 0 bananas when old.
Central bank prints out 2 units of money, given to gen 0 for free.
The real GDP of this economy is ______ bananas each period.
Thank you! Details and step by step process greatly apprecaited.
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Macroeconomics
Authors: Charles I. Jones
3rd edition
978-0393123944, 393123944, 393923908, 978-0393923902
