Unemployment, Inflation, Productivity, and Growth
1.What is meant b “quality (of capital) per worker”? How does improvement in the quality of capital affect economic growth?
2.Explain how the law of diminishing marginal returns is related to the per-worker production function.
3.What is meant by industrial policy? Discuss the strengths and weaknesses of an industrial policy.
All answers must be at least 75 words, all references must be cited in APA format and you are required to use BOOK: MACRO 3 ECON STUDENT EDITION BY WILLIAM A MCEACHER