Question
Suppose in the Romer growth model of the growth of A is described by the followingequation:A(t+1)-A(t) =dL A . (a)Explain what will happen to the
Suppose in the Romer growth model of the growth of A is described by the followingequation:A(t+1)-A(t) =dLA.
(a)Explain what will happen to the LR per-capita income growth rate and the absolute level of per-capita income ifdgoes up? Draw diagrams if necessary.
(b) Will your answer be different when A(t+1)-A(t) =d ALA?Explain
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The Great Divide Unequal Societies And What We Can Do About Them
Authors: Joseph E Stiglitz
1st Edition
0393352188, 9780393352184
