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Solve clearly.. This question requires that you use the law of motion of capital, the production function, and the national income accounts identity. Suppose that

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Solve clearly..

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This question requires that you use the law of motion of capital, the production function, and the national income accounts identity. Suppose that a nation's production function is Y , = F(K,, L() = K L)- You have the following information: The share of income paid to owners of capital a = The rate of depreciation, 6 = 1 The savings rate s =.15 The initial capital stock Ko=1 The labor supply, for all t 2 0 is L = 1 What is the long run level of income? Please give an exact answer. This question will accept any answer within 0.1 of the correct

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