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Question One. Answer the following pertaining to the growth theories. a) Derive the elasticity of the balanced-grth-path level of output with respect to savings rate.

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Question One. Answer the following pertaining to the growth theories. a) Derive the elasticity of the balanced-grth-path level of output with respect to savings rate. b) The Romer growth model assumed that growth rates if capital and knowledge are endogenously determined. Derive the growth rates of capital and knowledge. I want a answer in 15 min

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