1. What are the two equations that comprise a growth model? Identify the parameters and the variables.

2. What are the two different labor demand functions we considered in class? Be sure to identify the type of production function they are based upon. Draw this relationship of each using two graphs for each type (top graph is isoquant and bottom graph labor demand).

3. What are the different components to the classical theory of labor supply? Describe the demographic equilibrium and show in a graph. At what level is the wage? Draw the classical labor supply schedule in relation to the demographic equilibrium.

4. What are the different components to the neoclassical theory of labor supply?. At what level is the wage? Draw the neoclassical labor supply schedule. Show changes in the neoclassical labor supply in relation to the population growth rate.

5. Show in graph labor market equilibrium for the classical conventional wage model with (i) fixed coefficient production function and (ii) a production function with a spectrum of techniques.

6. Show in graph labor market equilibrium for the neoclassical full employment model with (i) fixed coefficient production function and (ii) a production function with a spectrum of techniques.

7. In the neoclassical model, what is the wage rate when N S < N d? When N S > N d? When N S = N d?