©2012 The McGraw-Hill Companies, All Rights Reserved 1 Chapter 20: Short-term Economic Fluctuations.
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Technological Progress and the Production Function AN = Effective Labor = Labor in Efficiency Units Assuming: Constant returns to scale Given state of.
Harrod-Domar Model introduction We owe the modern theory of growth to the economist Roy Harrod with his article An Essay in Dynamic Theory (1939), inspired.
Technological Progress and the Production Function
EC404 Lecture2
