Lecture 3 13

Lecture 3 13 - No government (!!!) and No International...

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The Basic Solow Growth Model: Assumptions The basic model assumes the followings: A1: Multi-periods A2: The economy production function has a constant returns to scale technology A3:
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Unformatted text preview: No government (!!!) and No International Trade A4: All factors of production are fully employed A5: Capital stocks can depreciate, but can be increased through investment....
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This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

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