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Scenario: Consider two countries, Country A and Country B. Both countries have identical aggregate ...

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Scenario: Consider two countries, Country A and Country B. Both countries have identical aggregate ...

Scenario: Consider two countries, Country A and Country B. Both countries have identical aggregate production functions, populations, and efficiency units of labor, but they have different technologies. The technology used in Country B is more advanced than that used in Country A.

Refer to the scenario above. Which of the following statements will be TRUE?

▸ Country A's steady-state equilibrium will lie to the left and above that of Country B.

▸ Country A's steady-state equilibrium will lie to the left and below that of Country B.

▸ Country A's steady-state equilibrium will lie to the right and below that of Country B.

▸ Country A's steady-state equilibrium will lie to the right and above that of Country B.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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Dratini

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