Towards the end of the 16th century the potato (originated in South America) was brought to Europe. Within a short time period it became the prime agricultural crop in Ireland. The population of Ireland was about 1.4 million in 1600 and increased to about 8.4 million by 1841. The Irish economy was in a Malthusian state throughout this period. According to the Malthusian model, (a) What should have been the increase in productivity due to the introduction of potatoes so as to generate (alone) a 6-fold increase in population? (b) Draw the phase diagram that describes the evolution of population from one steady-state to another. (c) What should we expect the level of income per capita to be in 1841 relative to the level in 1600?

Towards the end of the 16th century the potato (originated in South America) was brought to Europe. Within a short time period it became the prime agricultural crop in Ireland. The population of Ireland was about 1.4 million in 1600 and increased to about 8.4 million by 1841. The Irish economy was in a Malthusian state throughout this period. According to the Malthusian model, (a) What should have been the increase in productivity due to the introduction of potatoes so as to generate (alone) a 6-fold increase in population? (b) Draw the phase diagram that describes the evolution of population from one steady-state to another. (c) What should we expect the level of income per capita to be in 1841 relative to the level in 1600?

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter1: Introducing The Economic Way Of Thinking

Section: Chapter Questions

Problem 5SQP

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