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3. a) The people of Country X save 10 percent of their income, and the people of Country Y save 25 percent of their income.

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3. a) The people of Country X save 10 percent of their income, and the people of Country Y save 25 percent of their income. If these respective saving rates persist forever, will one country or the other enjoy a higher rate of income growth forever? Explain, (4 marks) b) At first patents might seem like a deterrent to growth because in effect they restrict the use of new technology. Yet many economists believe that patents generate growth. Explain why

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