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Why do some countries have a high real per capita income?
High standard of living within the industrialized nations consider to be largely because of the high productivity of high value added products
High productivity can be the effect of:
• High quality of human capital along with
• Access to current complementary resources for example, state-of-the-art capital.
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
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