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The Solow model of economic growth relates GDP to the factors of production and level of technology in an economy. The more factors of production,
The Solow model of economic growth relates GDP to the factors of production and level of technology in an economy. The more factors of production, or the higher the level of technology, the more output the economy can produce. However, the factors of production exhibit diminishing marginal product. Focusing only on capital resources, the following table provides the amount of output that a country can produce with different levels of capital
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