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2. Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research productivity E rises immediately

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2. Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research productivity E rises immediately and permanently to the new level E' . (a) Solve for the new growth rate of knowledge and yr. (b) Make a graph of y: over time using a ratio scale. (c) Why might research productivity increase in an economy

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