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Author Question: Explain how the Harrod-Domar growth model, while extremely limited, provides important insights into ... (Read 141 times)

Themember4

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on: Jun 30, 2018
Explain how the Harrod-Domar growth model, while extremely limited, provides important insights into the growth process.
 
  What will be an ideal response?

Question 2

What is meant by the demographic transition? What are the differences in the demographic transition between the current developed economies and developing countries?
 
  What will be an ideal response?


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hugthug12

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The model focuses only on the aggregate rates of savings and investment, and requires a single, knife-edge equilibrium growth rate. Nevertheless the essential roles of saving and investment are worth studying for their impact on growth.

Answer to Question 2

The answer is discussed in the text in section 6.3.


Themember4

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

tandmlomax84

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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