What effect should each of the following have on long-run living standards, according to the neoclassical growth
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a. An increase in the saving rate.
b. An increase in the population growth rate.
c. A one-time improvement in productivity.
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a An increase in the saving rate increases longrun livin...View the full answer
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Related Book For
Macroeconomics
ISBN: 978-0321675606
6th Canadian Edition
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
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