Multiple Choice
The next questions refer to the following.
Suppose the economy has the production function Y = .8K, gross investment is 10% of national income, and the rate of depreciation is 5% of the capital stock.
-Output in this economy
A) is constant
B) grows by 2%
C) grows by 3%
D) grows by 5%
E) grows by 6%
Correct Answer:
Verified
Correct Answer:
Verified
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