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Use the Solow Growth Model to explain why growth rates of per capita income in less developed countries like China might be above the growth
Use the Solow Growth Model to explain why growth rates of per capita income in less developed countries like China might be above the growth rates of per capita income in developed countries. Furthermore, understanding the concept of diminishing marginal returns, explain what the country should do in order to maintain high growth in income per person. Please add a graph and economic reason to explain your answer.
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