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 labor. Consumption equals
A) buH.
B) zuH.
C) buz.
D) buzH.
Correct Answer:
Verified
Correct Answer:
Verified
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