write a short notes on steady State growth.
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The concept of steady state growth is the counterpart of long-run equilibrium in static theory. ... In steady state growth all variables, such as output, population, capital stock, saving, investment, and technical progress, either grow at constant exponential rate, or are constant.
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The concept of steady state growth is the counterpart of long-run equilibrium in static theory. ... In steady state growth all variables, such as output, population, capital stock, saving, investment, and technical progress, either grow at constant exponential rate, or are constant.
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