Implications of savings and population growth

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Q1. Illustrate what are the implications of savings and population growth at steady a state in the Solow's neoclassical growth model?

Q2. As the distance travelled away from New York increases, the proportion of plane travelers relative to train travelers rises. Is this because as you travel further your preferences shift or is it a price effect? As the wage rate raises Illustrate what would you expect to happen to the mix of plane/train use?

Reference no: EM139312

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