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Consider the Solow growth model with population growth.
Other things remaining the same, assume there is unemployment in the economy, where the unemployment rate is given by u. This means only (1-u) L workers get employed in a country.
NOTE: Unemployment rate (u) is exogenously given.
Therefore the relevant Cobb Douglas Production function for any country is given by:
Y=AK^α*((1-u)L)^(1-α)
Given the above:
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