Economics Homework Help
Economics Homework Help. What gross saving rate is necessary to make the given capital-labor ratio…..
Assume that 10 percent of capital depreciates
each year. What gross saving rate is necessary to make the given capital–labor
ratio the steady-state capital–labor ratio?
Assume
that a country’s production function is Y = K1/2L1/2.
Assume that the country possesses 40,000 units
of capital and 10,000 units of labor.