Please answer all the questions with explanation. 1. The GI Bill provided educational opportunities to many...

Please answer all the questions with explanation.

1. The GI Bill provided educational opportunities to many young men returning from military service. Using a production possibilities curve, demonstrate how the GI Bill affected economic growth and explain your answer.

2. Why is China still poor in per capita terms despite having the second-largest economy in the world in terms of real GDP?

3. What is the relationship between savings, capital formation, and consumption?

4. (a) What is productivity, and how does it relate to the standard of living? (b) List and explain the different factors of productivity.

Expert Solution

Rahul Sunny answered 2 years ago

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