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Question 2 (a) Explain in words why it may take a long time for an innovation to affect the economy's growth rate. [4 marks] (b)

Question 2

(a) Explain in words why it may take a long time for an innovation to affect the economy's growth rate. [4 marks]

(b) Explain in words, two ways that technological progress can increase inequality (i.e. increase the Gini coefficient). [4 marks]

(c) Explain in words how progressive redistribution policies can reduce inequality. [2 marks]

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