PLEASE ANSWER ALL THE QUESTIONS

QUESTION 1:

State whether the following is true or false:

Real GDP per capita (f, factor cost) 15,000 10,000 20,000 25,000 5,000 0 1875 - 1890 1905 1920 1935 Year 1950 1965 1980 1995 2010 - Log of real GDP per capita 10.5 8.5 9.5 10 8 9 1875 - 1890 1905 1920 1935 Year 1950 1965 1980 1995 2010Income,r consumption later (5) \"'I: n!- Household's endowment following the temporary income shock: its pattern of consumption it it cannot borrow A