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You are the absolute Monarch of the fictional economy of the Empire of Dawsonia. You have just replaced your not- so-competent father from the throne
You are the absolute Monarch of the fictional economy of the Empire of Dawsonia. You have just replaced your not- so-competent father from the throne in a palace coup, supported by fiery, but mostly peacefully, protests on the streets. On your first day "on the job", your advisors ask you to set the economic policy for the next 50 years or so. You took an Economics class in your life once at some point and you vaguely remember that the factors that determine the longterm growth aspects of an economy are: The role of capital in the aggregated production process (a) The population Growth Rate (n) The populations savings rate (s) The economy's depreciation rate (6) The growth rate of technology (g) Imagine you don't want to change the population growth rate (because in 20 years from now you plan to go to war against the enemy nation of Vanierstan and need soldiers for this purpose). Which policy would you enact in order to change the longterm growth prospects of your country? Since you are an absolute monarch, you can just change any of the parameters above merely by declaration and the population has to adjust their behavior instantly. Explain which parameter you would change (PICK ONLY ONE!) and decide whether you would increase or decrease them. Write your answer in 3-5 sentences. Yes, there is more than one correct answer. Start your answer with: "I would change parameter by (increasing or decreasing) it". Then, explain your answer and justify your choice
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