Business, 17.02.2021 14:10 broyochey1
In the United States, the capital share of GDP is about 30 percent, the average growth in output is about 3 percent per year, the depreciation rate is about 4 percent per year, and the capital–output ratio is about 2.5. Suppose that the production function is Cobb–Douglas, so that the capital share in output is constant, and
that the United States has been in a steady state.
(For a discussion of the Cobb–Douglas production
Answers: 2
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In the United States, the capital share of GDP is about 30 percent, the average growth in output is...
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