First ranked by level or real gdp per capita

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1. If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? Explain

2. Shocks to an economy, such as wars, famines, or the unification of two economies. often generate large one-time flows of workers across borders. What are the short-run and long-run effects on an economy of a one-time permanent increase in the stock of labor? Use a diagram to guide your arguments.

3. Describe one important criticism of Rostow's stages of economic growth theory.

Reference no: EM13839025

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