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In the endogenous growth model, suppose that there are three possible uses of time. Let u = the fraction of time spent working s =
In the endogenous growth model, suppose that there are three possible uses of time. Let u = the fraction of time spent working s = fraction of time spent neither working nor accumulating human capital (unemployment) 1-u-s= fraction of time spent accumulating human capital- If z = 1, b = 5, and the economy begins in period 1 with 100 units of human capital, complete the below table for time periods 1 and 2.- In this model, does the scenario with the greater human capital accumulation lead to the highest per capita income (Yes/No)? u $ He Ye H'a Y'a 0.72 0.05 100 2 t t 0.6 0.152 100% t t e 0.6 0.05 100 t t t 0.52 0.10 100 t t In the endogenous growth model, suppose that there are three possible uses of time. Let u = the fraction of time spent working s = fraction of time spent neither working nor accumulating human capital (unemployment) 1-u-s= fraction of time spent accumulating human capital- If z = 1, b = 5, and the economy begins in period 1 with 100 units of human capital, complete the below table for time periods 1 and 2.- In this model, does the scenario with the greater human capital accumulation lead to the highest per capita income (Yes/No)? u $ He Ye H'a Y'a 0.72 0.05 100 2 t t 0.6 0.152 100% t t e 0.6 0.05 100 t t t 0.52 0.10 100 t t
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