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An increase in the productivity of research. Suppose there is a one- time increase in the productivity of research, represented by an increase in in Figure 5.1. What happens to the growth rate and the level of technology over time?

An increase in the productivity of research. Suppose there is a one- time increase in the productivity of research, represented by an increase in in Figure 5.1. What happens to the growth rate and the level of technology over time?

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 22CTQ: Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita...
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FIGURE 5.1 TECHNOLOGICAL PROGRESS: AN INCREASE IN THE R&D SHARE Å/A 9A=n 9A/0 X SALO/AO A/A = OLA/A LA/A
Transcribed Image Text:FIGURE 5.1 TECHNOLOGICAL PROGRESS: AN INCREASE IN THE R&D SHARE Å/A 9A=n 9A/0 X SALO/AO A/A = OLA/A LA/A
1. An increase in the productivity of research. Suppose there is a one- time increase in the productivity of research, represented by an increase in in Figure 5.1. What happens to the growth rate and the level of technology over time?
Transcribed Image Text:1. An increase in the productivity of research. Suppose there is a one- time increase in the productivity of research, represented by an increase in in Figure 5.1. What happens to the growth rate and the level of technology over time?
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