Question 3 [20 marks]
An economy can be described by the production function,𝑌 = 𝐹(𝐾, 𝐿) = 𝐾 𝛼𝐿 1−𝛼
(a) Show that this production function exhibits constant returns to sc
Question 1 [10 marks]
Consider a two-period economy with a household and government.
The household behaves according to its intertemporal budget constraint, but faces a borrowing constraint that preve
‘Decolonising’ has become a buzzword in debates about education in recent years. To what extent can a ‘decolonizing’ agenda help address persisting inequalities in education? Please choose
