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Business, 31.03.2020 00:14 bobbykemp300
If two economies are identical (including having the same saving rates, population growth rates, and efficiency of labor), but one economy has a smaller capital stock, then the steady-state level of income per worker in the economy with the smaller capital stock: will be at the same level as in the steady state of the high capital economy. will be at a lower level than in the steady state of the high capital economy. will be proportional to the ratio of the capital stocks in the two economies. will be at a higher level than in the steady state of the high capital economy.
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If two economies are identical (including having the same saving rates, population growth rates, and...
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