Important Growth Models
May 8, 2019
The Harrod-Domar Growth Model: The aggregate production function—which is the main pillar of every growth theory—can take different forms, depending
The Harrod-Domar Growth Model: The aggregate production function—which is the main pillar of every growth theory—can take different forms, depending
The natural or (equilibrium) level of unemployment is determined by calculating the level of unemployment when the labour market is
Tejvan PettingerNovember 28, 2017 Definition of Consumer Surplus This is the difference between what the consumer pays and what he
Relative poverty reflects the fact that some sections of society have an income far lower (e.g. 50% less) than the
Tejvan Pettinger A list of different types of economic goods. Income elasticity of demand and types of goods Income elasticity
Since 1991, the Indian economy has pursued free market liberalisation, greater openness in trade and increase investment in infrastructure. This
Increasing the rates of economic growth has long been the holy grail of conventional economics and politics. To a large
In summary, to reduce poverty, government policies could include: Means-tested welfare benefits to the poorest in society; for example, unemployment benefit,
Tejvan Pettinger Readers question: What is a ‘dual economy’? A dual economy refers to the existence of two distinct types
Tejvan Pettinger What do we mean by balanced economic growth? Also, is it important for an economy to promote a
