Scenario: Kenya's economy is in steady-state equilibrium. It has capital stock valued at $48 billion and GDP valued at $60 billion.
-Refer to the scenario above.If the depreciation rate in Kenya is 10 percent,what must be the saving rate in Kenya?
A) 8 percent
B) 10 percent
C) 12.5 percent
D) 15 percent
Correct Answer:
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