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1) Suppose the rates of depreciation, population growth and productivity growth decline simultaneously. Explain how these changes will impact the steady state level of output
1) Suppose the rates of depreciation, population growth and productivity growth decline simultaneously. Explain how these changes will impact the steady state level of output per effective worker as well as the steady state growth rates of output, output per worker and output per effective worker
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Econometric Analysis
Authors: William H. Greene
7th edition
131395386, 131395381, 978-0131395381
