Question: 1. If the production function is given by Y = AK1/312/3, the savings rate, s, is 20 percent, the depreciation rate, d, is 5 percent,

1. If the production function is given by Y = AK1/312/3, the savings rate, s, is 20 percent, the depreciation rate, d, is 5 percent, and = L = 1, the steady-state level of output in the Solow model is: Y (a) 1 dk 20% 7/5 = 5% 7/15 (b) 2 (c) 3 (d) 4 (e) 8 Ksz sk Y 213 N (1) 1 Joel Lundel > hiher Greuth

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