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- What is the "endogenous growth model"?How does endogenous growth theories provide a greater understanding of the process of economic growth?What are the three eras regarding the history of human population growth, and what arethe characteristics of each era? According to Galor and Weil (2000), what are the majoreconomic forces that drive the transition from a Malthusian economy to a modern growtheconomy?
- What is the effect of an increase in total factor productivity on steady state population and consumption per worker in the Malthusian model?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?how does endogenous growth theory explain economic growth
- Based on the Neoclassical Growth Model explain in detail what are the critical determinants of economic growth. Also, specify related assumptions.Suppose that , the marginal product of efficiency units of labor, increases in the endogenous growth model. What effects does this have on the rates of growth and the levels of human capital, consumption, and output? Explain your results.Xx What is neoclassical growth model of economic growth?