Multiple Choice
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 labour. Consumption equals
A) buH.
B) zuH.
C) buz.
D) buzH.
E) ebuH².
Correct Answer:
Verified
Correct Answer:
Verified
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