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Business, 29.10.2019 01:31 jayrichesz80Jahree
Moving to another question will save this response. < < < question 13 of 15 > > > question 13 10 points save answer consider the solow model. assume that the workforce is 100 million people, the investment (savings) rate equals 0.30, the depreciation rate is 0.10, and the production function is cobb-douglas with productivity a=10 and exponents as follows: yak1/2 1/2 compute the steady-state levels of capital (k"), income (y") and consumption (c"). compute also the corresponding per worker values (k". y* and c"). recall that 1 billion equals 1,000 million based on your calculations, which of the following statements about the steady state is correct? for the economy as a whole, gdp is $30 billion and consumption is $21 billion. in per worker terms, gdp equals $300 and consumption equals $210. for the economy as a whole, gdp is $90 billion and consumption is $30 billion. in per-worker terms, gdp equals $900 and consumption equals $300. for the economy as a whole, capital is $220 million and consumption is $180 million. in per-worker terms, capital equals $950 and consumption equals $720 none of the above
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