Question
The Harrod-Domar Growth Model emphasizes the importance
of saving and capital accumulation for economic growth. The model concludes that the rate of output growth (g) is determined by:Solution
Solution: The Harrod-Domar model is fundamentally an identity derived from the relationship between saving, investment, and capital: · Growth Rate (g)=Capital-Output Ratio (c)Rate of Saving (s) · Mathematically, I=sY and I=ΔK. Growth in output (ΔY/Y) is proportional to capital accumulation (ΔK/K). Since K/Y=c (capital-output ratio is constant), ΔY/Y=(ΔK/K)≈(ΔY/ΔK)×(ΔK/Y)=(1/c)×(sY/Y)=s/c.
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
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All fruits are vegetables
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Some tasks are work.
All work are job.
Some job are tough
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I. Some tasks are tough.
In the questions given below there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be ...
