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Economic (E) [5 pts] Suppose a sudden scientific breakthrough permanently doubles TFP A. Explain what happens to GDP-per-capita immediately on impact, along the transition path,

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Economic

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(E) [5 pts] Suppose a sudden scientific breakthrough permanently doubles TFP A. Explain what happens to GDP-per-capita immediately on impact, along the transition path, and in the new long-run equilibrium.Name: (D) (5 pts] How do output and consumption vary with the savings rate s? Is increasing investment always good for household welfare? Explain

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