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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
- 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 in generating non-diminishing marginal returns to investment and capital in new growth theory.
- State and explain two key differences in the predictions of neoclassical growth theory and new growth theory?
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