The economy of the united states is described by the, Business Economics

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The economy of the united states is described by the

The economy of the United States is described by the following aggregate production function: Yt = minimum (Kt, Lt). Saving occurs at a constant rate s. Each period, capital depreciates at a constant rate δ. The population is constant. What is the evolution of output over time? What is the evolution of the capital stock over time?

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Business Economics: The economy of the united states is described by the

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