Suppose the Parameters of the Romer Model Take the Following

question 82

Multiple Choice

Suppose the parameters of the Romer model take the following values:
And
What is the per capita income of this country in the 10th period, y₁₀?

• A) about 6.13
• B) about 61.3
• C) about 12.0
• D) about 11.9
• E) about 10.9

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Definitions:

Illiterate Field Hands

Agricultural workers, often slaves or laborers in later periods, who could not read or write, common on plantations and farms historically.

Negotiate

The process of discussing something with someone in order to reach an agreement or mutual understanding.

Plains of Chalmette

The site of the Battle of New Orleans in 1815, a significant American victory at the end of the War of 1812.

Battle of New Orleans

A significant battle fought between British and American forces in 1815, marking the end of the War of 1812 and resulting in a decisive American victory, boosting national pride.