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Business, 13.07.2020 20:01 noeminm105

Suppose that U. S. real GDP (output) grew by 2 percent between 2014 and 2015. During this time, real GDP per capita (output per worker in our model) grew by 1 percent. If the U. S. economy is in steady state, the rate of technological progress (gA ) is approximately: a. 1%
b. 2%
c. 3%
d. None of the options

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Suppose that U. S. real GDP (output) grew by 2 percent between 2014 and 2015. During this time, real...
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