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Tell me what the growth rate for the following derivation of output per worker would be: Yt = AtKt^(alpha)Lyt^(1-alpha) --> Yt = AtKt^(alpha)(1-ltLt)^(1-alpha) --> Yt/Lt
Tell me what the growth rate for the following derivation of output per worker would be: Yt = AtKt^(alpha)Lyt^(1-alpha) --> Yt = AtKt^(alpha)(1-ltLt)^(1-alpha) --> Yt/Lt = At (Kt/Lt)^(alpha) (1-lt)^(1-alpha)
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Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
