Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that the capital per effective worker (K/AN) is
A) growing at a rate of 6 + gA + gN.
B) growing at a rate of zero.
C) growing at a rate of gA + gN.
D) growing at a rate of gA.
E) growing at a rate of gN.
Correct Answer:
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