Business, 25.02.2020 02:24, panpanriser76

Suppose that this economy consists of two types of households: laborers and capitalists. Capitalists own all the capital stock K and are paid a rental rate equal to the marginal product of capital. Find an expression for their share of national income. (d) Assume that laborers save none of their income. If capitalists save 30% of their income, the parameter α = 0.3, and the parameter δ = 0.1, what is the aggregate saving rate s? Will income inequality between capitalists and laborers worsen over time?

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Suppose that this economy consists of two types of households: laborers and capitalists. Capitalists...