Question 1: Short Answers a. Explain the concepts of marginal and average product of capital. What is meant by diminishing marginal product and average product? b. Does population growth, n > 0, lead to growth of output in the long run? Does it lead to growth of output per worker in the long run? c. What is the meaning of the term convergence? How does absolute convergence differ from conditional convergence? What does empirical work find out about absolute and conditional con- vergence? d. Explain why an increase in capital per worker, k, reduces the growth rate of the capital stock, dk/k. How does this result depend on diminishing productivity of capital