Suppose y = k^1/2, total factor productivity is constant and equal to 1, s = 0.40, and d = 0.10. When the economy reaches the steady state, consumption per worker is ________. A.$1.20 B.$2.40 C.$4.80 D.$13.60
Suppose y = k^1/2, total factor productivity is constant and equal to 1, s = 0.40, and d = 0.10. When the economy reaches the steady state, consumption per worker is ________. A.$1.20 B.$2.40 C.$4.80 D.$13.60
Chapter16: Economic Growth
Section: Chapter Questions
Problem 2E
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Suppose y = k^1/2, total factor productivity is constant and equal to 1, s = 0.40, and d = 0.10. When the economy reaches the steady state, consumption per worker is ________.
A.$1.20
B.$2.40
C.$4.80
D.$13.60
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