Refer to the scenario above. How much should he pay for the painting if he thinks that there is a 70% chance that the painting he is buying is original?

Suppose y = k1/2, total factor productivity is constant and equal to 1, s = 0.40, and d = 0.10. When the economy reaches the steady state, the capital-labor ratio is ________ of capital per worker

A) $2 B) $4 C) $8 D) $16

The average U.S. citizens' share of the government debt represents less than 2 percent of a person's lifetime income

a. True b. False Indicate whether the statement is true or false