What is the ethical philosophies
Assignment:
Why should a law have to be passed to require people to do the "right" thing in business? What ethical philosophies contribute to your answer and why?
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If both labor and capital grow at 1 percent per year, what would the growth rate of total factor productivity have to be?
What would be the effect (on output) of increasing the capital stock by 10 percent? What would be the effect of increasing the pool of labor by 10 percent?
Discuss the adjustment process of the economy, and using Figure 3-5 , show what happens to growth in the short run and in the long run.
What will happen to output per head if capital and labor both grow but Z is fixed?
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