In a Solow model with technological change, if population grows at a 2 percent rate and the efficiency of labor grows at a 3 percent rate, then in the steady state, total output grows at a percent rate.
A)0
B)2
C)3
D)5

Name: In a Solow model with technological change, if population grows at a 2 percent rate and the efficiency of labor grows at a 3 percent rate, then in the steady state, total output grows at a percent rate. A)0 B)2 C)3 D)5
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The Answer is D

In a Solow Model with Technological Change, If Population Grows