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Answer the following questions with 100 words or more:

1. Our country, the USA has lots of resources that help the macroeconomy's productivity and economic growth. Identify and explain at least TWO resources that clearly give our country  that comparative advantage over others.

2. Two of the sources of economic growth are technological development and entrepreneurship. How do these 2 sources lead to economic growth?

3. a. Do you consider a college degree a form of capital? Please explain.

b. Population growth has a variety of effects on economic growth. How does it lower or increase productivity?

4. Let us revisit GDP which we slightly discussed. What is the difference between a nominal from a real GDP? Would you rather live in a country with a high GDP and low growth rate or in a country with low GDP and a high growth rate? Please explain.

Macroeconomics, Economics

  • Category:- Macroeconomics
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