Problem
1. What role does the legal system play in promoting property rights?
2. What shortcoming of the Solow growth model does the Romer model attempt to remedy?
3. Why is sustained per-capita growth possible in the Romer model but not in the Solow model?
4. In the Romer model, what three factors determine an economy's growth rate?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.