Why growth based only on growing labor force can on average

Reference no: EM131917586

Problem

1. Is it possible for growth in the scarce factor to lead to an expansion of trade in a large country? Why or why not?

2. Why might a developing country that experiences a bumper crop in its export good find itself less well-off than in a normal production year?

3. Explain why growth based only on a growing labor force can on average leave people less well-off. Would your answer be different if there were increasing returns to scale?

Reference no: EM131917586

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