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Chapter 4 Problem 3 - Neoclassical Growth Model Consider the neoclassical growth model with technical change, and its diagrammatic summary in Figure 4.3. Suppose the
Chapter 4 Problem 3 - Neoclassical Growth Model Consider the neoclassical growth model with technical change, and its diagrammatic summary in Figure 4.3. Suppose the rate of population growth n increased. a. Which element of the graph (i.e., the k*(n d g) line or the sf(k*) curve) would change and in what way? Draw such a change into a graph like the one in Figure 4.3 of the textbook
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