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Solow Model Y = AK^ L^ 1 If L is constant. Suppose that TFP A falls. Construct a single well-labeled Solow diagram that clearly shows

Solow Model

Y=AK^ L^1

If L is constant.

Suppose that TFP A falls.

Construct a single well-labeled Solow diagram that clearly shows the changes in steady-state capital, output, and investment per worker.

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