Business, 15.10.2019 21:00 champions2k19

Suppose the current capital-labor ratio in south korea is greater than the current capital-labor ratio in china. moreover, assume that productivity is constant (i. e. it doesn't grow over time), but it needn't be the same in the two countries. lastly, the two countries have the same population growth and depreciation rates and the same labor income share. if gdp per capita grows at the same rate in china and south korea, it must be the case that

(a) steady-state output per person is higher in china, provided they have the same investment rate.
(b) china and south korea have the same steady state
(c) neither of the two countries has reached its respective steady state yet.
(d) it is higher in south korea than in china.

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