Question: 1. Assume individual's utility flow function takes form: u(c) = log(c), and the production function takes form: Y (t) = AK(t) + BL(t). Describe the

1. Assume individual's utility flow function takes form: u(c) = log(c), and the production function takes form: Y (t) = AK(t) + BL(t). Describe the physical capital accumulation equation and obtain the GDP growth rate in the following economy:

(a) RCK economy (b) Overlapping generation economy

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