If output per worker in a steady state is $30,000, depreciation is 13%
If output per worker in a steady state is $30,000, depreciation is 13%, the population growth rate is two percent, and the saving rate is 20%, what is the steady state capital-labor ratio?
A) $10,500
B) $85,714
C) $22,500
D) $40,000
ANSWER
D
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