QUESTION 1

A) Discuss the key similarities and differences between the three main theories (exogenous, endogenous and evolutionary-institutional) of long-run growth. (5 marks)

B)For either the endogenous or evolutionary-institutional theories of growth, identify the various factors that are likely to determine the long-run growth trajectory of a country and explain how each factor could determine a country's long-run growth trajectory. (5 marks)

C)For a country of your choice, identify two macroeconomic policies that have been used in response to the Covid-19 pandemic that may, based on exogenous growth theory, also influence the long-run growth of that country. (2.5 marks)

3 paragraph