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- 3. What is development? Sustainable development? We often use real per capita GDP as a proxy for the level of development. What is GDP and real per capita GDP? What are some of the problems with this indicator for measuring development? Why is it still so commonly used?“Since 1980, aggregate per capita GDP in sub-Saharan Africa has declined at almost 1 percent per annum. The decline has been widespread: 32 countries are poorer now than in 1980. Today, sub-Saharan Africa is the lowest-income region in the world...It is clear that Africa has suffered a chronic failure of economic growth. The problem for analysis is to determine the causes” (Collier and Gunning 1999: ‘Why has Africa grown slowly?’). Explain the possible reasons why sub-Saharan Africa grew so slowly from 1980- 1999?i am struggling with 22 because I don't know if it is c or a and I need help please!
- 8131) Given the narrow interpretation of technology, technology will include which of the following? A) how well firms are run B) the organization and sophistication of markets C) the political environment D) none of the above 32) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the growth rate of output per capita will be greater in B than in A. B) the growth rate of output per capita will be greater in A than in B. C) the capital-labor ratios (K/N) will be the same in both countries. D) the growth rate of output per capita will be the same in both countries. 33) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the capital-labor ratio…(5 points) Suppose that the marginal product of capital satisfies the following condition: lim fr = A > (8 + n)/s. 00 L Show this model in the context of the above Solow growth model. What does this imply about the existence of a steady state? Will growth in per-capita GDP be continual?
- 7. Suppose that the economy's production function is Y = √K√LA where K is capital, L is labor, and A is the state of technology. Suppose that the saving rate (s) is equal to 6%, the rate of depreciation of capital (8) is equal to 5%, the number of workers grow at 5% per year and the rate of technological progress is 4%. (a) Find the steady state values of: iv. growth rate of output per worker growth rate of output v. (b) Suppose that the saving rate increases. What is its short-run and the long-run effect on the growth rate of per-capita output?QUESTION 1 1.1 Entrepreneurial activities may be harmful to economic growth in economies that are passing through the early to middle stage of development as many people would be moving from self-employment to waged employment. Critically discuss this statement on the nexus between entrepreneurship and economic growth as per the literature. 1.2 Using Table 5, discuss the study’s findings for the BRICS countries. 1.3 Given the study’s focus on emerging economies, examine the study’s policy implications for the BRICS countries.Q3
- 10. The Reverend Thomas Malthus (a British economist) thought that arithmetic growth in food supply (such as a farmer adding five more bushels of apples to his harvest every year) exhibited: A. positive exponential growth (logarithmic increase) over time B. logistic growth (linear increase, then exponential, then linear again) over time C. saturation growth (Michaelis-Menten increases) over time D. negative exponential growth (logarithmic decrease) over time E. linear growth (straight line increase) over timeAnswer the following: Q#13) The former Tea Party and Trump factions with the Republican Party would like the government to limit its direct intervention in the private sector while lowering taxes and eliminating government regulations. Which theory of economic growth is being utilized? (a) Malthusian Theory (b) Neo-Classical Theory (c) New Growth Theory Q#14) Does allowing for private property and property rights promote economic growth through time? Which best summarizes the view of economists? (a) Yes. Profit incentives that undergird investment and innovation would be undermined unless private property rights are protected. (b) No. The public interest and the public welfare cannot be promoted unless private companies are controlled and even operated by the government.For this question assume that technological progress does not occur. The rate of saving in Canada has generally been greater than the saving rate in the U.S. Given this information, we know that in the long run A) Canada's growth rate will be greater than the U.S. growth rate. B) capital per worker in Canada will be no different than U.S. capital per worker. C) investment per worker in Canada will be no different than U.S. investment per worker. D) all of these E) none of these
