The level of real GDP person Select one: a. and the growth rate of real GDP per person vary widely across countries. b. and the growth rate of real GDP per person are similar across countries. c. is very similar across countries, but the growth rate of real GDP per person differs widely across countries. d. differs widely across countries, but the growth rate of real GDP per person is similar across countries.

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.