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Consider a growth model with population growth with human and physical capital. Suppose that the aggregate production function takes the following form: Y, = AK*HI
Consider a growth model with population growth with human and physical capital. Suppose that the aggregate production function takes the following form: Y, = AK*HI N/ " where t denotes output, Kr physical capital, and Hr human capital. Nt is labour and grows at rate n, while A is total factor productivity and is a constant. Assume a >0, f>0anda + f
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