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Consider our Solow-style model of education and suppose that there is a decrease in the population growth rate. What are the short- and long-run effects on the growth rate of GDP p.c.?   Group of answer choices 1 The growth rate of GDP p.c. will be higher in the short run and higher in the long run. 2 The growth rate of GDP p.c. will be higher in the short run only. 3 The growth rate of GDP p.c. will be negative in the short run and positive in the long run. 4 The growth rate of GDP p.c. will the same in the short run and higher in the long run

Consider our Solow-style model of education and suppose that there is a decrease in the population growth rate. What are the short- and long-run effects on the growth rate of GDP p.c.?   Group of answer choices 1 The growth rate of GDP p.c. will be higher in the short run and higher in the long run. 2 The growth rate of GDP p.c. will be higher in the short run only. 3 The growth rate of GDP p.c. will be negative in the short run and positive in the long run. 4 The growth rate of GDP p.c. will the same in the short run and higher in the long run

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider our Solow-style model of education and suppose that there is a decrease in the population growth rate. What are the short- and long-run effects on the growth rate of GDP p.c.?

 

Group of answer choices

1 The growth rate of GDP p.c. will be higher in the short run and higher in the long run.

2 The growth rate of GDP p.c. will be higher in the short run only.

3 The growth rate of GDP p.c. will be negative in the short run and positive in the long run.

4 The growth rate of GDP p.c. will the same in the short run and higher in the long run.

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