Question
Suppose that the per hour worked form of the production function for an economy is given by y =10 k 1/4. The depreciation rate is
Suppose that the per hour worked form of the production function for an economy is given by
y=10k1/4.
The depreciation rate is
17%
and the saving rate is
20%.
What is the steady-state investment per worker and the steady-state level of consumption ?
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
