Question 8 a) What are the main benefits and costs of long-term economic growth? (4 marks) b) According to Neo-classical growth theory, what is the main driver of growth in real incomes per head in the long term? (4 marks)
Two Questions
200 words each Q1) Explain the difference between product and period expenses. Provide one example of each. Why are period and product kept separate in the income statement? Q2) Explain what a provision is, making reference to the relevant key