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Homework answers / question archive / MacroEconomics For one country the following numbers are the average values for the latest 5 years: depreciation rate of capital = 5
MacroEconomics
For one country the following numbers are the average values for the latest 5 years:
depreciation rate of capital = 5.5 %, rate of growth of employment = 1.1 %, ratio of capital to output = 3.2, ratio of investment to output = 35.2 %.
What is the necessary rate of technological progress to achieve balanced growth. Explain your result.
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