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In the neoclassical growth model, an increase in the savings rate Multiple Choice O raises the steady-state level of output O lowers the steady-state level
In the neoclassical growth model, an increase in the savings rate Multiple Choice O raises the steady-state level of output O lowers the steady-state level of output O raises the long-term economic growth rate O lowers total factor productivity O raises the steady-state level of output and long-term growth rate
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