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Functions from the economic growth model

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1. Indicate if the person would be classified as employed, unemployed, or not in the labour force and explaining the reasons: (i) a 65-year-old man who left his job and is now working as a volunteer for 10 hours a week; (ii) a university graduate who has not been able to find a position using her skills and is working as a wait-person for 30 hours a week; and (iii) a manufacturing worker who is out of a job and has given up searching for a job.

2. Use production functions from the economic growth model to explain why the United States of America grew at a much faster rate than the Soviet Union in the latter half of the 20th century.

Reference no: EM131068568

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