Lecture 3 35

Lecture 3 35 - equilibrium such that consumption is...

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Capital Stock and Welfare of the People What would you care as an individual: a) The level of capital stock I use? b) The level of consumption I enjoy? A benevolent policymaker would choose the
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Unformatted text preview: equilibrium such that consumption is highest. Such level of capital is called the “ Golden Rule level of Capital ”...
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This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

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