Why labor is more productive when capital stock is larger

Reference no: EM131353956

1. Show on a graph how capital formation shifts the production function. Use this graph to show that capital formation increases labor productivity. Explain in words why labor is more productive when the capital stock is larger.

2. Explain the different objectives of (long-run) growth policy versus (short-run) stabilization policy.

Reference no: EM131353956

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