(c) Recall the central equation from the Schumpeterian growth model re viewed in lecture: g : Z('7 - 1) (7) where g is the expected growth rate, z is the effort level of the entrepreneur and f}! > 1 is the size of the innovation. Data shows that US growth rates have been relatively stable over time since the 19708 while the number of researchers has increased steadily. What does this empirical pattern imply in conjunction with the above equation? Discuss