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Then, we can apply the K/L = k and Y/L = y substitution: k t+1 = 1 s We canquot;t simply do quot;the change in k, k, is equal to kt+1 - ktquot;...
Then, we can apply the K/L = k and Y/L = y substitution: k t+1 = 1 s We can"t simply do "the change in k, k, is equal to kt+1 - kt" because of that pesky 1/(1+n)(1+g). We"ve got to get rid of it. How?
