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Unformatted text preview: b) Calculate the following for each year (except 2002): (1) Population growth rate (from previous year) (2) Growth rate of output (from previous year) (3) Growth rate of per capita output(from previous year) 5. Show what would happen to the production function if the capital stock decreased. Suppose,too, that the decrease in the capital stockbecause it made workers less productive to firmsshifted the labor demand curve leftward. Graphically illustrate the full impact of a decrease in the nations capital stock under this assumption. What government policies could cause a decrease in the capital stock?...
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- Spring '12