10. Consider the long-run classical closed economy. Assume output is produced by Y = K04L0.6 with K = 20 and L = 60. When the price level is 6, the share of national income going to capital is (a)...

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10. Consider the long-run classical closed economy. Assume output is produced by Y = K04L0.6 with<br>K = 20 and L = 60. When the price level is 6, the share of national income going to capital is<br>(a)<br>0.2.<br>(b)<br>0.4.<br>(c)<br>0.6.<br>(d)<br>1.<br>

Extracted text: 10. Consider the long-run classical closed economy. Assume output is produced by Y = K04L0.6 with K = 20 and L = 60. When the price level is 6, the share of national income going to capital is (a) 0.2. (b) 0.4. (c) 0.6. (d) 1.

Jun 07, 2022

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10. Consider the long-run classical closed economy. Assume output is produced by Y = K04L0.6 with K = 20 and L = 60. When the price level is 6, the share of national income going to capital is (a)...

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