If the Production Function Is Given By $Y = \bar { A } K _ { t } ^ { 1 / 3 } \bar { L } ^ { 2 / 3 }$

question 115

Multiple Choice

If the production function is given by $Y = \bar { A } K _ { t } ^ { 1 / 3 } \bar { L } ^ { 2 / 3 }$ , the saving rate, s, is 20 percent, the depreciation rate, $\bar d$
, is 10 percent, and $\bar { A } = \bar { L } = 1$
, the steady-state level of output is:

• A) 1.4
• B) 4.0
• C) 2.0
• D) 8.0
• E) 3.5

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