1. The economy of Neverland shows that people on average consume 75 cents of each dollar of income. In this country, it takes 30 units of capital to produce 5 units of output. What is the likely growth rate in GDP for Neverland? Show all steps in detail

2. Looking at the Asian Tiger economies and comparing them to Brazil, what did the Tigers do well that Brazil did not. explaining all the various things that the Tigers did to eliminate poverty and what did and didn't Brazil do in the same time period.

3. Name and explain two key elements that are necessary for a country to accumulate capital. From what we have studied, how do you think this accumulation of capital might lead to economic growth?