The production function is Y (K, L) = K 1/3 L 2/3. The savings rate is 25%(.25),

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The production function is Y (K, L) = K 1/3 L 2/3. The savings rate is 25%(.25), the depreciation rate is 1% (0.1). What is the law of motion?

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 20, 2024 04:37 AM

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The production function is Y (K, L) = K 1/3 L 2/3. The savings rate is 25%(.25),

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Answer The law of motion for the capital stock in this scenario can be ... View the full answer

Income Tax Fundamentals 2013

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