Question 2 The last several decades has seen a significant amount of human capital entering Australia from foreign nations ranging from low-skilled to high skilled labour and seen as an important factor of the rate of invention and innovation within an economy. Imposing restrictions on skilled immigration policy may deteriorate the overall level of human capit given it is an integral part of production, and hence output. COVID- 19 has also shown the restrictive effects of the movement of human capital across countries. Assume there is no fiscal policy response from the government for the following questions. 1. Explain and illustrate the short-run effect of the Australian Government imposing strict ban on human capital entering Australia, by significantly reducing the numbe of skilled immigrants entering the nation over the next 20 years on macroeconomi equilibrium using the AD-AS model. .

Question 2 The last several decades has seen a significant amount of human capital entering Australia from foreign nations ranging from low-skilled to high skilled labour and seen as an important factor of the rate of invention and innovation within an economy. Imposing restrictions on skilled immigration policy may deteriorate the overall level of human capit given it is an integral part of production, and hence output. COVID- 19 has also shown the restrictive effects of the movement of human capital across countries. Assume there is no fiscal policy response from the government for the following questions. 1. Explain and illustrate the short-run effect of the Australian Government imposing strict ban on human capital entering Australia, by significantly reducing the numbe of skilled immigrants entering the nation over the next 20 years on macroeconomi equilibrium using the AD-AS model. .

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 4SCQ: Assume there are two countries: South Korea and the United States. South Korea grows at 4 and the...

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