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Describe a hypothetical scenario within a suitable model of endogenous growth to support the following two complementary macroeconomic policies for increasing the long-run growth rate
Describe a hypothetical scenario within a suitable model of endogenous growth to support the following two complementary macroeconomic policies for increasing the long-run growth rate of per capita income: (a) a better educational curriculum that emphasises students' understanding of ideas rather than memorising information. (b) better communication infrastructure and better social institutions that improve trust and social cohesion in the population to cause a higher frequency of communications among educated workers facilitating knowledge spillover during the production process
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