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The linear stages model is criticized because Group of answer choices The structural and institutional conditions necessary to effectively utilize savings are often lacking The
The linear stages model is criticized because Group of answer choices The structural and institutional conditions necessary to effectively utilize savings are often lacking The model does not justify the massive transfer of capital from developed to developing countries The direct relationship between total capital stock and total output ignores the law of diminishing returns of capital The real wage is assumed to be constant and the labor growth is overlooked
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