Use the information below to answer the following question(s) :
1() the rate of depreciation is 14% per year,
2() the population growth rate is 4% per year, and
3() the growth rate of technology is 5% per year.
-Refer to the information above. Which of the following equals the annual growth rate of "effective labour" in the steady state in this economy?
A) 3%.
B) 2%.
C) 5%.
D) 12%.
E) 9%.
Correct Answer:
Verified
Q6: Which of the following can help explain
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Q8: Use the following information to answer the
Q9: Assume that an economy experiences both positive
Q10: Assume the production function is represented by
Q12: "Convergence" in recent years can be mostly
Q13: Refer to the information above. Which of
Q14: Assume that an economy experiences both positive
Q15: Assume that an economy experiences both positive
Q16: Assume that an economy experiences both positive
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