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Describe two possible explanations for the productivity slowdown experienced in Canada since 1973. Explain the importance of research and development and the giant shoulders effect

  1. Describe two possible explanations for the productivity slowdown experienced in Canada since 1973.
  2. Explain the importance of research and development and the "giant shoulders" effect in generating non-diminishing marginal returns to investment and capital in new growth theory.
  3. State and explain two key differences in the predictions of neoclassical growth theory and new growth theory?

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