What is the prediction of the Solow growth model on the growth rate of real GDP per capita?(Limited to 100 words.
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Solution 1
The Solow growth model predicts that the growth rate of real GDP per capita will eventually stabilize. This is due to diminishing returns to capital and labor. As a country invests more in capital, the additional output produced from each new unit of capital will decrease. Similarly, as more labor i Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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