If n is the rate of growth of the labour force, sy the rate of saving and investment per worker and k the ratio of capital per worker, the steady state condition is:

Question

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The steady state condition in the context of economic growth models, particularly the Solow-Swan model, is when the rate of saving and investment per worker (sy) equals the product of the rate of growth of the labor force (n) and the ratio of capital per worker (k). This ensures that the capital per worker (and thus output per worker) remains constant over time, indicating a steady state.

If N Is the Rate of Growth of the Labour