1. Explain how the labor productivity and the living standard are related.
2. Analyze how the property rights affect a nation's standard of living.
3. Assume the government grants a tax concession on companies' investments in order to encourage the private investment. Analyze the possible impact of a tax concession on the loan able funds market in an economy.
4. Explain how this phenomenon can be by minimum wage laws. Teenage unemployment is generally higher than unemployment for people ages 25 or over in many economies.