Question: Consider a small world that consists of two different countries, a developed and a developing country. In both countries, assume that the production function takes

Consider a small world that consists of two different countries, a developed and a developing country. In both countries, assume that the production function takes the following form: Y = F (K, LE) = K1/4 (LE)3/4, where Y is output, K is capital stock, L is total employment and E is labour augmenting technology.(f) What must the saving rate be in each country in order to reach the Golden Rule steady-state? What should each country do to reach

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