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Richland and Poorland are identical in all aspects, except that Richland has a labor efficiency index (h) of 10 while Poorland has a labor efficiency
Richland and Poorland are identical in all aspects, except that Richland has a labor efficiency index (h) of 10 while Poorland has a labor efficiency index of 2. Both Richland and Poorland have reached their steady states. What can we say about their steady state per capita incomes? Group of answer choices Richland and Poorland have the same per capita incomes in steady state. Richland will have more than five times the per capita of poorland in the steady state, Richland will have five times the per capita of poorland in the steady state, Richland will have less than five times the per capita of poorland in the steady state
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