What is the capital accumulation equation used by Solow?
What will be an ideal response?
According to Solow, the capital in the current year is equal to the capital of last year less the depreciated capital plus the level of investment. This implies:
Kcurrent year = Klast year - Kdepreciated + I
or, Kcurrent year = Klast year - (depreciation rate × Klast year) + I
or, Kcurrent year = (1 - depreciation rate) × Klast year + I
Economics
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Relative to the demand curve for low-skilled workers, the demand curve for high-skilled workers lies
A) to the right. B) to the left. C) below. D) in the same place.
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In an oligopoly, minimum efficient scale is likely to occur at a level of output that is a large fraction of industry sales
Indicate whether the statement is true or false
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