2. What is human capital and how does it promote growth just as technology or innovation in the capital stock? 3. What is per-capita real GDP and absolute real economic growth?-see exhibit 1 4. What does the equation for the production function tell us?-see exhibits 2- 3 5. What is absolute/and per-capita real economic growth? 6. What causes the PPF to shift over time? How will this translate into the LRAS curve?-see exhibit 4 7. How could lower taxes affect the labor market in terms of the supply of labor and the connection with the production function and LRAS? 8. Explain the components of Real Q = T(L,K,NR,H) 9. What is the new growth theory and the neoclassical growth theory in terms of technology? 10. How is sustained long-term growth rate possible?-the four Asian Tigers, for example. 11.Why is a well-oiled legal/institutions system conducive to promoting growth infrastructure like private property rights, growth- promoting policies and the legal system? What are transfer-promoting policies? 12.How can health and education promote a more productive labor society? 13. How does the production function illustrate productivity spurs in the labor market? What causes shifts vs movements along the production function? 14. How can technology increase sustained long-term growth in the standards of living of a population and natural resources are scarce?-Japan, for example