Consider the following statement: The Solow model shows that the saving rate does not affect the growth
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Consider the following statement: "The Solow model shows that the saving rate does not affect the growth rate in the long run, so we should stop worrying about the low U.S. saving rate. Increasing the saving rate wouldn't have any important effects on the economy." Explain why you agree or disagree with this statement?
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I would disagree with the statement The Solow model which is a neoclassical growth model developed by Robert Solow indeed provides insights into the d...View the full answer
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