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- Among Neocolonial Dependence Model, the False Paradigm Model and the Dualistic Development, which is the best to develop and grow a country's economy?One of the characteristics of some developing economies is the relatively low level of trust ofpeople outside one’s extended family. How might the big push model and o-ring model shed light on this problem?Modern economic models sometimes require strong assumptions. What do you think are some of the trade-offs between a more rigorous, logically cohesive model with strong assumptions but clear inferences and a description of problems followed by a verbal discussion of possible implications? The o-ring and big push models are based on which of these approaches?
- Assume that Trinbago is a small country that produces wine and motor vehicles, where motor vehicles are capital intensive. Trinbago is also capital intensive, and the standard Heckscher -Ohlin (H-O) assumptions hold. The other country in the model is Vincyland. What recommendations would you give?Instructions: choose the correct answer below 1. In W.W. Rostow 'Economic Perspective', the preconditions for take-off is describe as a) Growth in normal condition b) Real income per capita increase c) Expansion of the nation modern sectors d) Notable increase in investment 2. A cause of unplanned Urbanization in the Caribbean is a) Natural increase b) Tourism c) Rural development d) Increase manufacturing in urban area 3. According to Caribbean sociologist M. Cross, a problem becomes a social problem when a) It becomes the concern of the entire society of community b) The problem is a personal problem c) A social problem can be appreciated only within the framework of the larger picture d) None of the above 4. In Ryan's 'The Independence Experience', who stated that population growth in the Caribbean is influenced by fertility, mortality and international migration? a) R.T Smith b) M.G Smith c) Norma Abdullah d) J. Barrow 5. Which theoretical perspective…What should we infer when our models make predictions that are not reflected in the world? Obviously there is a level of inaccuracy in every model, but is it better to presume we misunderstand the world or to use such errors to find problems preventing the world from matching our model? Explain your answer. Robert Lucas argues that the main model of efficient investment is remarkably inaccurate. What is the key critique of Lucas and how was this problem addressed in our model? Many developing countries struggle with debt due to high interest rates and often low returns. Given what you learned in this chapter, why does this challenge exist? What might be a policy to alleviate it?
- Q: Briefly summarizing both linear stage models and structural transformation models. What can you say in terms of the strength of each model in explaining the extent that poor countries remain poor and rich countries remain rich? Do these models any use in explaining development differences among different countries? Why or why not? Discuss in detail.While Malthus blamed the poor for pending crises, contemporary thinkers like PaulEhrlich place equal blame on the very wealthy. Why is this the case? (Hint: thinkI = P*A*T)Based from the material provided, give the point of view of the following classical economists on economic development. Explain the pros and cons. Economist Focus and viewpointAdam SmithDavid RicardoJohn Stuart MillThomas MalthusMarx and EngelsJosephSchumpeter Reflection:Do you think the concepts and views of the economists are true and relevant for economicdevelopment? (cite the theories/ views of the economist/s that are relevant)
- Explain, using the OLG model, how an increase in the growth rate of technology affects welfare - specifically, argue how the intertemporal discount rate may change in response to an increase in technological growth and . Be thorough.What would happen in Ricardian model and the Heckscher-Ohlin model, a) If one country tried to export more to the other country? b) If one country restricted the amount of imports from the other country? c) What does this imply for trade policy? Please answer correct explain plz asap plz Don't answer by pen paper plzWhy we study microeconomics ? Discuss the origins of macroeconomics . Also explain the reasons why classical theories of economic system failed at some points ?