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What are some of the possible policy actions

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In our imaginary economy, the current rate of economic growth in real terms is 3%. However, the population of the country is constant at this time but is likely to turn negative over the next decade. Provide clear and concise answers to the following questions:

a) What will be happening to the rate of growth of the economy if they do not take any specific action (use a Cobb-Douglas production function)?

b) What are some of the possible policy actions to address this problem, if there is any problem ahead?

c) Support your arguments in part II with any examples that we may have with regard to some of the countries, which may be facing this situation now or in the near future.

Reference no: EM132473095

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