1.Suppose that the savings rate of a country declines. Starting from steady state in the Solow model, what will be the effect on the capital labor ratio, output per capita, and the output growth?
2. What are the long-run costs as far as economic growth is concerned of a policy of taking money that could reduce the national debt- and thus add to national savings- and distributing it as tax cuts instead? What are the long term benefits of such a policy? How can we decide whether such a policy is a good thing or not?
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