Question
(a) (i) In brief explain Mankiw-Romer-Weil criticism of Solow economic growth model, Y = F(K, AL). (ii) Based on production function, Y= K .H .(AL)
(a) (i) In brief explain Mankiw-Romer-Weil criticism of Solow economic growth model, Y = F(K, AL). (ii) Based on production function, Y= K .H .(AL) 1- - , derive the contribution of human capital on economic growth and show the steady-state level of the economy.
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Essentials of Econometrics
Authors: Damodar Gujarati, Dawn Porter
4th edition
73375845, 978-0071276078, 71276076, 978-0073375847
