ECS3709 Assignment 5 (COMPLETE ANSWERS) Semester 2 2024 - DUE 24 October 2024
ECS3709 Assignment 5 (COMPLETE ANSWERS) Semester 2 2024 - DUE 24 October 2024; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us...
ECS3709 Assignment 5 (COMPLETE ANSWERS) Semester 2 2024 - DUE 24 October 2024; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us...
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ECS3709
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, SECTION A [20 Marks] A1 Comparative Living Standards,
Savings, and Economic Growth (a) Discuss how the
measurement of living standards between countries can
influence our understanding of economic growth. (6) (b)
Using real life examples, explain the role of savings in
promoting economic growth and how differences in
savings rates between countries might affect their long-
term growth prospects. (4) A2 Technological Progress,
Unemployment, Inequality, and Economic Growth
Questions (a), (b) and (c) are based on the following table:
(a) Using the data provided in the table, discuss the
relationship between technological progress and economic
growth. (6) (b) Based on the information in the table,
explain how technological progress might affect income
inequality in these countries. (2) (c) Mention and explain
any two potential determinants of technological progress
that could explain the differences across countries. (2)
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