Which of the following statements best represents the impact of technological progress in the Solow growth model?
A) There must be increases in the quality and quantity of consumption for long-term growth to be achieved.
B) Technological progress is necessary to achieve the steady-state level of consumption per worker.
C) There must be increases in the quality and quantity of capital for long-term growth to be achieved.
D) Technological progress allows for an increase in the saving rate.
Correct Answer:
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