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Article Shared by  The below mentioned article provides an overview on the Solow’s model of growth. Introduction: Prof. Robert M. Solow made his model an alternative to Harrod-Domar model of growth. It ensures steady growth in the long run period without any pitfalls. Prof. Solow assumed that Harrod-Domar’s model...

Prof. Romer, in his Endogenous Growth Theory Model, includes the technical spillovers which are attached with industrialization. Therefore, this model not only represents endogenous growth but it is closely linked with developing countries also. Moreover, in Homer's model, just the technological spillovers are considered ignoring the...

Direction: Read the passage given below and answer the questions that follow it:Suppose that for a particular economy for some time period, investment was equal to 100, gov-ernment expenditure was equal to 75t, net taxes were fixed at 100 and consumption (C) was given by...

the Solow’s model of growth. Introduction: Prof. Robert M. Solow made his model an alternative to Harrod-Domar model of growth. It ensures steady growth in the long run period without any pitfalls. Prof. Solow assumed that Harrod-Domar’s model was based on some unrealistic assumptions like fixed factor proportions,...

C.P. Chandrasekhar The Indian government’s effort to resolve by force its banking crisis with the help of the Insolvency and Bankruptcy Code (IBC) has hit yet another roadblock. Even when major secured creditors agree to a resolution plan, because they have to take a smaller haircut...

Wire-grid Cobb-Douglas productionsurface with isoquants A two-input Cobb–Douglas production function with isoquants In economics, more precisely econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs, particularly physical capital and labor, and the amount of output...

C. P. Chandrasekhar On 31 July, the United States Federal Reserve System (US Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that it would put...

Prabhat Patnaik The hallmark of a systemic, as distinct from a cyclical or sporadic, crisis of capitalism is that every effort to resolve the crisis within the broad confines of the system, defined in terms of its prevailing class configuration, only worsens the crisis. It is in this...