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What else can I help you with?
When does an economist consider an economic model useful?
Simplifies representations of the real world
Difference between harrod-domar model of economic growth?
The Harrod-Domar model of economic growth emphasizes the relationship between investment, savings, and economic output, suggesting that a certain level of investment is necessary to achieve a specific growth rate. It posits that an increase in investment leads to an increase in income and output, with the growth rate dependent on the capital-output ratio and the savings rate. The model highlights the importance of maintaining a balance between savings and investment to ensure stable economic growth. However, it has been criticized for its simplistic assumptions and neglect of factors like technology and labor.
How does the four sector model operate and help economic growth?
The four sector economic model is a measure of household, business, government and foriegn sectors.æ The purpose of the four sector model is to include global trade in the calculations of a nations economy.
What is Solow?
Solow is a swann model. Long term economic growth from neoclassical ages are used to compare long term economical complications of present.
With reference to the circular flow model of the economy explain what happens to economic growth unemployment and inflation when injections exceed withdrawals or leakages?
When injection exceeds leakage aggregate demand will high it followed by high employment , with rise in price economic growth will ensures . For detail explanation you can take from Tutorpace
When does an economist consider an economic model useful?
Simplifies representations of the real world
What field of work is Robert Solow involved in?
Robert Solow is a renowned economist. His theories on economic growth led to a model being named after him. He won a Nobel Prize in economics in 1987.
What has the author Charalambos G Tsangarides written?
Charalambos G. Tsangarides has written: 'A Bayesian approach to model uncertainty' -- subject(s): Bayesian statistical decision theory, Econometric models 'Growth empirics under model uncertainty' -- subject(s): Econometric models, Economic policy, Economic development, Economic conditions
What is a model for an economist?
supply and demand
Was Obama's father a communist?
No Obama father is a Harvard graduate economist. Obama father is from Kenya. Kenya is a former British colony. Their economic system is model after that of Great Britain
How does the four sector model operate and help economic growth?
The four sector economic model is a measure of household, business, government and foriegn sectors.æ The purpose of the four sector model is to include global trade in the calculations of a nations economy.
What are the positives and negatives of Rostow's growth model?
The main positive of Rostow’s growth model is that it provides a clear and concise framework for understanding how economies develop over time. The model is easy to understand and can be applied to a wide range of historical and contemporary cases. Additionally, the model offers a number of policy implications that can help policy-makers to promote economic growth. The main negatives of Rostow’s growth model are that it is overly simplistic and does not adequately take into account the complexities of real-world economies. Additionally, the model has been critiqued for its Eurocentric perspective and for its lack of attention to the role of gender in economic development.
Who portrays the planetary model of an atom?
Niels Bohr is credited with developing the planetary model of the atom, which depicts electrons orbiting the nucleus in discrete energy levels. This model helped explain the stability of atoms and the emission of light at specific wavelengths.
What is exogenous growth mode?
Exogenous growth models refer to economic growth theories that attribute increases in output primarily to external factors, such as technological advancements, rather than internal factors within an economy. These models suggest that growth is driven by external influences like innovation, investment in human capital, or resource availability, which are not explained by the model itself. A common example is the Solow-Swan model, where technological progress is seen as an external factor promoting long-term economic growth.
What is Solow?
Solow is a swann model. Long term economic growth from neoclassical ages are used to compare long term economical complications of present.
How can you counter the argument that Rostow's model of development is irrelevant to third world countries?
well i think this model really addresses growth and not development. you need to ask yourself whether economic growth equates development. the third world in its developing state may not necessarily develop in the linear manner as suggested in this model. further, many of the third world countries are dependent on the first world so any form of economic growth usually does not translate into development as most of the money leaves these countries to support the economies of the north.
With reference to the circular flow model of the economy explain what happens to economic growth unemployment and inflation when injections exceed withdrawals or leakages?
When injection exceeds leakage aggregate demand will high it followed by high employment , with rise in price economic growth will ensures . For detail explanation you can take from Tutorpace
