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How Does the New Growth Theory Explain Economic Growth

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How does the new growth theory explain economic growth?


Definitions:

Convalescence

The period of recovery and regaining of health and strength after illness or medical treatment.

Incubation

The period between exposure to an infection and the appearance of the first symptoms.

Prodromal

Pertaining to the early symptoms and signs that precede the full manifestation of a disease or condition.

Decline Stage

Decline Stage denotes a phase in the lifecycle of a product, business, or condition where there is a progressive decrease in prominence or intensity.

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