How can we reconcile these four classical models? In other words, what are some positives that can be taken from each model? Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model
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How can we reconcile these four classical models? In other words, what are some positives that can be taken from each model?
Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model
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- Please explain why the Classical School started to advocate liberal economic policies towards the end of the eighteenth century, despite the rapid growth of England in the Mercantilist periodThe neoclassical model of marriage focuses on productivity. This model says that there are gains from marriage that results from gains from trade (sharing production, specializing, etc.) List three OTHER gains from marriage (that are NOT associated with productivity advantages).Why is the Malthusian model no longer regarded as an explanation for modern economies? What are the main differences between the Malthusian and the Solow models?
- 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?From the economic perspective, needs are defined as "states of lack", and have different characteristics; they can be present or future, individual or collective, primary or secondary, among others. According to the above, which of the following alternative(s) is/are correct with respect to the CLASSICAL THEORY?I. They are variable.II. They are infinite.III. They are indecipherable.Select one:a. Only I.b. Only II.c. Only III.d. I and II.e. I, II and III.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?
- Do the migration trends, unemployment trends and rural-urban income ratio trends behave in the way you would expect based on the Harris-Todaro model? Explain.Outline the main similarities and differences between the Solow model and the Romer model.Contrast laissez- faire( classical school of thought) vs Keynesian economics
- Explain why classical assumptions are not realistic?One practical limitation of the Classical or Neoclassical model is that it suggests allowing the economy to self-correct in the long run, but recessions may last a very long time. How severe is this problem and why? What is one example?Korea was one of the “Asian Tiger countries“. Can you explain in a simple model how Korea could start as rather poor economy, develop towards a steady state until Korea belongs to the advanced economies today. Follow the instructions below when discussing the problem! Questions in detail a) Which model covers best the above-mentioned question? Explain your choice. b) Draw the appropriate model and the according equilibrium c) Explain the graphic and explain what happens, d) Give some additional elements of the process which could not be covered by the model mechanics