Critically discuss Rostow’s 5 stages of Growth theory and the criticism levelled against it? How can it be applied in the South African context?
Q: Economics If a consumer has a utility function of U = x + 2y, which statement is true? The…
A: "In economics, people buy goods in order to maximize there utility/satisfaction. Utility function…
Q: 2. You owe your best friend P2,000. Because you are short on cash, you offer to repay the loan over…
A: The amount that a lender adds to the principle to compensate a borrower for using assets is known as…
Q: Asymmetric information and/or imperfect information can cause two forms of market failure: 1)…
A: Adverse Selection in economics refers to that phenomena when in any transaction between two people ,…
Q: II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis…
A: Plotting the workers on horizontal axis and total production of the vertical axis, the graph is…
Q: In order to buy an apartment unit, Meryl needs to spend a total of $550,000 today and equal monthly…
A: Formula of the future value for the one time payment: F = P (1 + R/n)n*t Where: F : Future value P…
Q: 5 suppose the industry demand function is p subscript d end subscript equals fraction numerator 90…
A: Demand function: Pd = 90/(Y+1) Supply function: Ps = Y
Q: According to Professor Kosmos, the demand for hot chocolate from the university café has the…
A: According to the question, it is given that : The demand for hot chocolate from the university…
Q: If a policy change in policy causes an economy to move a non-Pareto optimal situation to a Pareto…
A: Pareto efficiency, also known as Pareto optimality, is a situation in which resources cannot be…
Q: Demand curves slope downward because slope downward.
A: Old customers often tend to buy more products than usual when the price of the goods decreases,…
Q: The cost of a gizmo has gone up. Which of the following would indicate that there would be a good…
A: The length of time has a big impact on how elastic the demand is. Long-term customers have the…
Q: denton productions limited utilizes statistical analysis to determine the optimal price for its…
A: Total Revenue = Price*Quantity Total Profit = Total Revenue - Total Cost
Q: Suppose that the marginal cost of producing a pound of cereal is $2, irrespective of the level of…
A: Marginal cost is in addition to total cost because of producing one more unit of output. Average…
Q: The idea of (A) Opportunity costs (B)Scarcity (C)Marginal analysis (D)Specialization in economics…
A: Opportunity cost is defined as the benefit which is lost while making a different decision. You must…
Q: the long run, if an economy's consumption spending is $5 trillion, its planned investment = $2…
A: Budget deficit is the difference between income and expenditure of government.
Q: If the price of tamarind falls, there will be: an increase in the quantity demanded of tamarind. a…
A: The equilibrium price is the only cost where the aims of consumers and the aims of producers…
Q: A risk-neutral monopoly must set output before it knows the market price. There is a 50 percent…
A: Given information: There is a 50 percent chance the firm's demand curve will be P=20 - Q and a 50…
Q: What are the benefits and costs associated with foreign portfolio investment (FPI)?
A: Investments refer to the process of people or firms using some saved up money for further production…
Q: Please define the factors affecting the duration of planning period of the economic institute
A: Economic planning can be defined as the process where the central government makes the important…
Q: Explain the concept of opportunity costs and provide at least two real world examples illustrating…
A: Types of cost- 1. Variable Costs - Variable costs are costs that fluctuate with respect to the…
Q: If the unemployment rate is falling from 4 to 3%, while the inflation rate is increasi from 2% to…
A: Both the higher unemployment rate and the lower unemployment rate are the macroeconomic problems.…
Q: Assume that at a Monetary Policy Committee meeting the South African Reserve Bank decides to…
A: Central Bank of country uses monetary policy to achieve full employments and price stability. Repo…
Q: If Boblandia had a flexible (floating) exchange rate, it would cost 5 Bobos to purchase a Canadian…
A: Exchange rate is the rate at which two nation currencies are exchanged and which is determined by…
Q: graph shows the economy's initial aggregate-demand curve (AD₁). Suppose the government increases its…
A: Aggregate demand is the sum of consumption expenditure, investment expenditure, government…
Q: The Bobo is the official currency of Boblandia. The Wakandan dollar is the official currency of…
A: Flexible exchange rate system where foreign exchange rate is determined by the market forces demand…
Q: An engineer with Accenture was asked by her client to help understand the difference between DDB and…
A: The difference between 150% DB method and DDB is the times of depreciation rate that is levied on.…
Q: You have just been hired by the U.S. government to analyze the following scenario. Suppose the U.S.…
A: Economics refers to the social science that studies the production, distribution, and consumption of…
Q: The monopolist faces the demand curve P = 180-2Q/3. The monopolists marginal cost of production is…
A: Monopolist is the single seller in the monopoly market structure where they want to maximise the…
Q: Suppose that the current price per unit of the good is 10 pounds. A perfectly competitive firm faces…
A: Introduction A perfectly competitive firm is where there are large number of firms available in the…
Q: A9. The diagram below depicts a firm's short-run production function and two isoprofit lines (and).…
A: A firm hires factors of production from the household sector in the form of land, labor, capital and…
Q: The demand curve for the final product is P = 40 - Q/10. The cost of Labor is WL 5. The production…
A: P=40-Q/10 Cost of Labor : wL=5 Production Function : Q=10L Marginal Revenue Product is the change…
Q: . A project requires an initial investment of BD 75,000, has a salvage value of BD 15,000 after 4…
A: The concept that depicts a decline in value of an asset due to obsolescence, wear and tear or usage…
Q: Profits in excess of the opportunity cost of capital that a business owner gets by introducing a new…
A: Technological advances or introduction of new technology allows firms to be more efficient in their…
Q: Jim is at an all-you-can-eat buffet and is considering whether or not to get another plateful of…
A: Analyzing something involves dissecting it into its constituent parts in order to understand what…
Q: Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the…
A: Below, P price Q quantity C/TC cost/total cost TR total revenue MR marginal revenue MC marginal…
Q: II. PROBLEM SOLVING Lino Batumbakal is now exploring the option to start selling beef wellington. He…
A: Demand function is an inverse relation between price and quantity , whereas a supply function is a…
Q: Consider the following diagram. ne total greater with an emission tax of $c than with an emission…
A: The Social Cost is a cost associated with a company's operations that is not directly paid by the…
Q: 5. Start saving for retirement immediately! Even a modest amount will add up in a hurry. Jay decides…
A: Above problem is a good example of annuity payments with geometric gradient , where Annual Payment…
Q: making business decisions?
A: ANSWER: An indifference curve is a graphical method of showing the bundles or combinations…
Q: 5. I need help answer please
A: Contractionary fiscal policy:- When the government either slashes expenditure or hikes taxes, it is…
Q: in order to diversify risk, some of your clients are considering investing in south Africa economy…
A: South Africa is a country located in deep south of africa continent.South Africa economy is one of…
Q: Please define the factors affecting the duration of planning period of the economic institute
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: J8
A: The sampling method is a technique in which all the elements of population has the equal chance to…
Q: Which range of aggregate supply would represent an economy where prices are rising as output…
A: According to the classical economics, aggregate supply curve is the curve that represents total…
Q: For each of the following scenarios involving the U.S. government, determine the primary function of…
A: Please find the answer below. ENFORCING CONTRACTS: The “Enforcing Contracts” indicator is an…
Q: The demand function Qd = 8 - 2P yields an equilibrium price of $4 and an equilibrium quantity of 4.…
A: Given information: Qd = 8 - 2P -------> Demand function. Where Qd is quantity demanded P is price…
Q: In a particular market, demand and supply curves are defined by the following equations QD300 20P,…
A: Qd = 300 - 20P Qs = -540 + 40P
Q: Suppose that the parents of a young child decide to make annual deposits into a savings account,…
A: A future payment's present value is its current cash amount. An annuity is a series of annual…
Q: What are the implications of such a subsidy for economic efficiency and Consumer and Producer…
A: Economic efficiency:- In order to benefit each person or organization in the most efficient manner…
Q: raw the demand curve for an environmental service, for example carbon sequestration (process of…
A: The demand curve is a curve that is utilized in microeconomics to decide the quantity of a specific…
Q: II. PROBLEM SOLVING Product Pineapple 2021 Price 600 2021 Quantity 5 1. Solve for the Real GDP using…
A: Money GDP is also known as Nominal GDP which is measured on the current year price level on the…
Critically discuss Rostow’s 5 stages of Growth theory and the criticism levelled against it? How can it be applied in the South African context?
Step by step
Solved in 2 steps
- List the areas where government policy can help economic growth.Formulate 5 specific ways or programs for the government to create faster ways of economic growth, with considerations of all macro environment areas.How does endogenous growth theories provide a greater understanding of the process of economic growth?
- What is Linear stages of growth model, Theories and Patterns of structural change, International‐dependence revolution and Neoclassical, free market counterrevolution in Economic Development?Which institutional design would you say is more suitable for economic growth: a majoritarian or a consociational democracy? Why?critically discuss the similarities and differences in growth factors based on Adam Smith's, David Ricardo's, and Harrod-Domar's theories.
- Economic growth theories have discussed growth factors from various perspectives. Critically discuss the similarities and differences in growth factors based on Adam Smith's, David Ricardo's, and Harrod-Domar's theories.In 1950’s and 60’s the average GDP per capita growth reached 8 % in Japan and approximately 3 % in USA. How this huge difference may be explained? Your arguments must be based on growth theory summarized by the production function.In the Malthusian growth model, what happens in the steady state if total factor productivity goes down? Explain.
- Read the following extract and use it to answer question? The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy PresidentPhumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, governmentidentified six “binding constraints on growth” that needed to be addressed so as to progress in its desire for shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. Thiscould be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an average of 6% in the period 2010 to 2014.These binding constraints were: deficiencies in government’s capacity the volatility of the currency low levels of investment infrastructure and infrastructure services shortages of suitably skilled graduates, technicians and artisans insufficiently competitive industrial and services sectors and weak sector strategies inequality and marginalisation, resulting in many…Read the following extract and use it to answer question? The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy PresidentPhumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, governmentidentified six “binding constraints on growth” that needed to be addressed so as to progress in its desire for shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. Thiscould be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an average of 6% in the period 2010 to 2014.These binding constraints were: deficiencies in government’s capacity the volatility of the currency low levels of investment infrastructure and infrastructure services shortages of suitably skilled graduates, technicians and artisans insufficiently competitive industrial and services sectors and weak sector strategies inequality and marginalisation, resulting in many…May I know why the endogenous growth model that represents standard of living and economic growth is drew in a straight line? Why it is a straight line?