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Face a stagnating standard of living

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Noted economic expert Dr. Melonhead recently stated "since in very long-run equilibrium we have achieved a steady state we should hope to never get to such an outcome since we will all face a stagnating standard of living". Is this statement true, false or uncertain? Note the bulk of the grades are associated with your explanation rather than a "guess" as to which case to pick.

Reference no: EM132151925

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