onegirl435
06.05.2020 •
Business
Alter the Solow growth model so that the production technology is given by Y = zK, where Y is output, K is capital, and z is total factor productivity. Thus, output is produced only with capital.
a. Show that it is possible for income per person to grow indefinitely.
c. Also show that an increase in the savings rate increases the growth rate in per capita income.
c. From parts (a) and (b), what are the differences between this model and the basic Solow growth model? Account for these differences and discuss.
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Ответ:
Explanation:
kindly check the below for this explanation
Ответ:
A product is something that is manufactured or refined for sale. A product is also able to be a service, physical or virtual item. Once the product is made and is able to be sold, it is distributed to wholesalers for sale or to other manufacturers to use for making their final product. A product is the result of an idea that is made for consumers to use or benefit from.