In the endogenous growth model presented in the text, suppose that u r
In the endogenous growth model presented in the text, suppose that u represents the fraction of time spent working (as opposed to accumulating human capital), b represents the efficiency of human capital accumulation, H represents the amount of human
capital, and z represents the marginal product of efficiency units of labor. Consumption equals A) buH.
B) zuH.
C) buz.
D) buzH.
ANSWER
B
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