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What would an economist say best portrays a model of economic growth?
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When does an economist consider an economic model useful?
Simplifies representations of the real world
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
What are conditions needed for economic growth?
By the Harrod-Domar model, net investment should be greater than depreciation rate or there should be an increase in the productivity of the factors of production.
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 is modernization model?
A modernization model of economic development most closely associated with the work of economist Walter Rostow.
Who portrays the planetary model of an atom?
Niels Bohr, he is the man who portrays the planetary model of an atom.
What has the author Charalambos G Tsangarides written?
Charalambos G Tsangarides is an economist specializing in public finance, debt sustainability, and economic growth. He has published research articles on these topics in various academic journals and co-authored several working papers for the International Monetary Fund.
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.
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.
How automobile industry is good example of capital augmenting technical progress?
Two major signals of economic growth are home sales and automobile sales. The automobile industry takes advantage of technology in each new car model on the market and this tends to account for a significant portion of economic growth.
