Question: True or False and justify your answer When applied to real-world data, the Solow model does pretty well in explaining how amounts of capital and

True or False and justify your answer

  1. When applied to real-world data, the Solow model does pretty well in explaining how amounts of capital and labor can impact aggregate production.
  2. The Total Poverty Gap is the total income needed to eliminate poverty, normalized by the total income in society.

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