3. The neoclassical growth model examines the interaction of growth, saving, and capital accumulation over time. It
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3. The neoclassical growth model examines the interaction of growth, saving, and capital accumulation over time. It predicts that in the absence of productivity growth, the economy will reach a steady state in which output, consumption, and capital per worker are constant.
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Related Book For 
Macroeconomics Plus Myeconlab With Pearson Global Edition
ISBN: 377221
9th Canadian Edition
Authors: Andrew B. Abel ,Ben Bernanke ,Dean Croushore
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