Explain how a major new skills training program would affect the labour market and real GDP in the economy. Consider whether labour supply or demand would be affected and whether labour productivity would change and how would this affect the production function and real GDP. You may use an answer more than once. In the labour market, a new skills program would cause the curve to shift to the right supply A new skills program would cause the standard of living (GDP remain unchanged :| per person) to demand A new skills program would cause the real wage to increase shift downwards decrease A new skills program would cause labour productivity to shift upwards \\ A new skills program would cause the production function to Choose... In 2020, Dubai's real GDP grew by 7.8 per cent a year and its population grew by 1.2 per cent a year. Assume these growth rates are sustained. How many years would it take until real GDP is twice what it was in 2020? J Choose... I 8.05 7.78 How many years would it take until real GDP per person is twice 10.61 what it was in 2020? 8.97 :| 12.82 15.15