=+ Hint: You may fi nd the following mathematical trick helpful. If z = wx, then the

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=+ Hint: You may fi nd the following mathematical trick helpful. If z = wx, then the growth rate of z is approximately the growth rate of w plus the growth rate of x. That is,

z/z ≈ w/w + x/x.

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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