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consider the generalized Romer model where the fishingout effect and the decreasing returns to research are allowed. suppose the number of researchers grows 5% each
consider the generalized Romer model where the fishingout effect and the decreasing returns to research are allowed. suppose the number of researchers grows 5% each year and laboraugmenting technology level grows 1% each year. then, there exists an upper limit for the fishing out effect in steady state. evaluate whether is true, false or uncertain and why
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