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Consider the Ramsey model from the lecture. a) Using the c = 0 and k = 0 loci, explain the movements of capital and consumption

Consider the Ramsey model from the lecture. a) Using the c = 0 and k = 0 loci, explain the movements of capital and consumption in this phase diagram. b) Explain how the economy attains the (unique) steady state if it were to start from outside this steady state

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