Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3 d. Earthquake destrys 75% of the capital stock e. Generous immigration policy lead the population to double
Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3 d. Earthquake destrys 75% of the capital stock e. Generous immigration policy lead the population to double
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 1P
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Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3
d. Earthquake destrys 75% of the capital stock
e. Generous immigration policy lead the population to double
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