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Graphically show the impact of a positive technologica l shock. Include all three markets: Labor, Product, Capital. Start with initial steady state. Show impact of

Graphically show the impact of apositive technological shock.

Include all three markets: Labor, Product, Capital.

  • Start with initial steady state.
  • Show impact of shock in the initial market.
  • Next show the propagation mechanism--how it carries over into the other two markets.
  • Show at least one set of the feedback loop, and the new steady state.

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