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) and b represents the efficiency of human capital accumulation. The growth rate of consumption equals
A) u(1 - b) - 1.
B) 1 + b(1 - u) .
C) (1 - b) (1 - u) .
D) b(1 - u) - 1.
Correct Answer:
Verified
Correct Answer:
Verified
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