Population Growth • Labor: L(t+1) = L*t + nL*t = (n+1)(L(t)) • (1+n) = (L(t+1)/Lt • (1+n) = P(t+1) / P*t, where P=population • Population is related to Labor, increase of labor leads to increase of population? • Hold Labor and Population constant, thus investing capital into a country
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This note was uploaded on 08/27/2011 for the course ECON 114 taught by Professor Cindybenelli during the Spring '08 term at UCSB.