Marginal productivity of capital
The assumption of the diminishing marginal productivity of capital implies that per capita real income across countries should converge in the long-run. Explain and discuss this statement in the context of the Solow growth model.
The assumption of the diminishing marginal productivity of capital implies that per capita real income across countries should converge in the long-run. Explain and discuss this statement in the context of the Solow growth model.
Use diagrams and follow the notations using the Jones, C (2011) Macroeconomics [J].book.
any other influences must be stated in the bibliography.
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