Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Chapter 7, Problem 7RQ
To determine
Reason for the fraction of hours worked by college graduates and relative wage of college graduates have gone up.
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5. We learnt the following equation in the class: Ak = sy - (n + 8)k where y = ko. Now, I
transform this equation into: Ak/k = sy/k - (n + 8). I want you to use a diagram to show the
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represents sy/k and one represents (n + 8). In the steady state, of course, Ak/k = 0). In this
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Macroeconomics (Fourth Edition)
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