Assignment Directions Guidelines: (if applicable) . Show your complete steps for the numerical questions. . Essay questions must be answered briefly but comprehensively. Questions: Problem 1: PERIOD QUANTITY QUANTITY TOTAL MEASURED OF LABOR OF CAPITAL OUTPUT LABOR (HOURS) (UNITS) (UNITS) PRODUCTIVITY 1 50 100 50 110 620 3 120 638 50 130 654 Using the table above, compute the measured labor productivity and fill in the empty cells (show your steps/calculation). What can you say about the returns to capital? (5 marks) ANSWER: Problem 2: Assume OVL Bank opens its doors to depositors and receives $100,000 in cash deposits. Assume furthermore that the bank has to abide by a 20% reserve ratio. Could this bank make a loan in the amount of $90,000? Show your steps and explain why (2 marks) ANSWER: Problem 3: The growth rate of real GDP in Bahrain rises from 4.2% to 4.4%%. Explain and calculate how this increase in the growth rate of real GDP affects the number of years it will take for real GDP to double