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deAssume that the saving rate increases from .20 to .25. Which of the following statements is true about the effect of this change on equlilibrium

deAssume that the saving rate increases from .20 to .25. Which of the following statements is true about the effect of this change on equlilibrium wage in period 1? All else equal, equlibrium wage will ____________ (not change, decrease, increase) in the closed economy and will __________ (not change, increase, decrease) in the open economy.

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