I. What is an aggregate production function? Describes how the total output of an economy depends on various available inputs such as labor, physical capital, human capital, and technology. Physical capital includes machines, buildings and human capital includes skills, knowledge, and education that the workforce of the economy possess II. Suppose that the economy of Nelsonia has a current GDP per capita of $40,000. What will be GDP per capita if the economy grows at the following rates? (show your work) A. 2% a year for 20 years? B. 4% a year for 20 years? C. 2% a year for 40 years? D. 4% a year for 40 years? III. If the average worker in Nelsonia is initially three times as productive as the average worker in Noslenia, and if productivity grows at a 2% rate in Nelsonia and a 5% rate in Noslenia, which country will have the most productive workers after the following periods? (show your work) A. 20 years? B. 30 years? C. 40 years?IV. List the government policies that can help promote economic growth. 1. Altering the Saving Rate 2. Reduction in Non-Plan Revenue Expenditure 3. Policies to Raise the Rate of Productivity Growth 4. Technological Progress 5. Reduction in Government Regulation 6. Industrial Policy. V. Write a paragraph, using complete sentences, describing A. the components of economic growth. Physical capital describes the stock of equipment and structures that are used to produce goods and services. Human capital refers to the knowledge and skills that workers acquire through education, training, and experience. Natural resources describe all inputs into the production of goods and services that are provided by nature. Technological knowledge refers to society's understanding of the best ways to produce goods and services. B. the determinants of the productivity of a country's labor force