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Homework Problems Chapters 3 and 4

Homework Problems Chapters 3 and 4 - an example of dualism...

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Homework Problems Chapters 3&4 1. Detail and outline the following schools of thought: linear stages, structural change, dependency, neoclassical and coordination failure. Describe some of the advantages and disadvantages each. 2. Starting with the assumptions S=I, and the capital output ratio = quantity of capital needed to get a $1 increase in GNP; derive the Harrod-Domar growth model and its equilibrium condition. Explain each step. If k=2, what GNP growth rates are associated with savings rates of 10%, 15% and 18%? What savings rate is necessary for 6% GNP growth? 3. Detail how you would calculate the total population of the rural sector in the Lewis Model before migration. Fully explain how you arrived at the answer you did. What assumption of the Lewis model results in an elastic labor supply to the urban sector? 4. Explain the following statement: Correlation does not imply causation. 5. Explain why the phenomenon of university education and mass illiteracy existing in the same county is
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Unformatted text preview: an example of dualism. Can you think of other examples? 6. What are the assumptions about the variability of inputs in the Harrod-Domar Growth model, the Lewis model and the Solow model? (i.e. are capital, labor and technology fixed or variable for each?) 7. Graphically illustrate an S-curve and 45-degree line. Are all three equilibrium points stable? Explain. Define/ explain/ graph the following: (please note: this is a selected list of terms and is in no way intended to be comprehensive) Rostows stages of growth Harrod-Domar Growth Model (assumptions, analysis (both verbal and analytical), results) Lewis Model of structural change (assumptions, analysis (both verbal, graphical and mathematical), results) Solow Growth Model (assumptions, analysis (both verbal and graphical), results) dualism public choice analysis ruling elites poverty trap...
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