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Business, 04.03.2020 22:06 mantooth

Which of the following statements below describe what is meant by a steady state, in terms of the Solow model? (Assume there is no productivity growth) I. Output per worker = consumption per worker = capital per worker. II. Output per worker, consumption per worker and capital per worker are constant. III. Output per worker, consumption per worker and capital per worker all grow at the same positive rate. IV. Total output, total consumption and total capital all grow at the same rate (the growth of the labor force).

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Which of the following statements below describe what is meant by a steady state, in terms of the So...
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