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What pattern of cross-country growth will this produce

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1. Draw the MPK schedule so that, over a certain initial range of capital, there is increas- ing MPK and then this is followed by diminishing MPK until the MPK declines to a level higher than that achieved in poor countries. What pattern of cross-country growth will this produce? How does this compare with the data described in this and earlier chapters?

2. A country has a working age population of 70 million, a total population of 100 million, unemployment of 5 million, and employment of 45 million.

(a) What is its labor force?

(b) What is its participation rate?

(c) What is the participation rate as a proportion of the working-age population?

(d) What is its unemployment rate?

Reference no: EM13887713

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