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-In the figure above, productivity has increased.In which growth model can this type of change lead to a permanently higher growth rate of real GDP per person?
i. Classical growth model
ii. Neoclassical growth model
iii. New growth model
Probability
A mathematical concept that quantifies the likelihood of an event happening, ranging from 0 (impossible) to 1 (certain).
Transponders
Electronic devices that receive a signal and automatically transmit a predetermined response.
Toll Booth
A checkpoint along a roadway where travelers are required to pay a fee for passage.
Probability
A measure quantifying the likelihood that an event will occur, ranging from 0 (impossible event) to 1 (certain event).
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