Which of the following is not an interpretation of the golden rule of accumulation ?

Phelps's golden rule of accumulation picks the steady state with the highest consumption per head, reached when the marginal product of capital equals the growth rate of the labour force, $f'(k) = n$. Saving per head then equals $nk = k f'(k)$, so the saving ratio equals capital's share in output, $k f'(k)/f(k)$, which is the elasticity of output with respect to capital. With capital paid its marginal product, this means profits are fully invested and wages fully consumed, so the profit share equals the investment-output ratio. All three statements are therefore interpretations of the same rule, and none of them is excluded.