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Suppose that the average growth rate of real GDP per capital is 3%. What is the increase in standard of living after 25 years? after
Suppose that the average growth rate of real GDP per capital is 3%. What is the increase in standard of living after 25 years? after 50 years? after 100 years? How would your answers change if the average growth rate of real GDP per capital were 3.25%?
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