Country A produces GDP according to the following equation: GDP = 5VK. The country has a depreciation rate of 3.2%. What does this country's savings rate need to be in order to sustain a steady-state GDP of $148? Put your answer into percentage form (e.g. 30.57% not 0.3057) and then round to two decimal places. You do not need to include the % sign.

Country A produces GDP according to the following equation: GDP = 5VK. The country has a depreciation rate of 3.2%. What does this country's savings rate need to be in order to sustain a steady-state GDP of $148? Put your answer into percentage form (e.g. 30.57% not 0.3057) and then round to two decimal places. You do not need to include the % sign.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...

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