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Suppose that the per hour worked form of the production function for an economy is given by y=10k^1/4. The depreciation rate is 17% and the
Suppose that the per hour worked form of the production function for an economy is given by y=10k^1/4. The depreciation rate is 17% and the saving rate is 20%. What are the steady-state capital-labour ratio and the steady-state real GDP per worker hour ?
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