Explain in your own words what is the meaning of potential/long term output: Intermediate Macroeconomics Assignment, ATU, Ireland
| University | Atlantic Technological University (ATU) |
| Subject | Intermediate Macroeconomics Assignment |
1) Explain in your own words what is the meaning of potential/long-term output and why it can be said that the Solow model is primarily concerned with the long-term.
2) Explain in your own words the concept of conditional convergence. Use two graphs depicting two economies with different characteristics in order to illustrate your answer. mmtt [
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