How do you understand the term the great divergence
Course:- Business Economics
Reference No.:- EM13891947

Assignment Help
Assignment Help >> Business Economics

1. How do you understand the term “The Great Divergence”? List & explain the causes of The Great Divergence.

2. Compare and contrast the factors that are mainly responsible for the growth convergence of East Asia and the growth divergence of “The Rest”.

3. Describe Rostow's theory of economic development and elucidate the claim that this theory consists merely of "empty economic stages".

4. What are Kuznets' main findings, based on data for today's developed economies, about modern economic growth?

Would you expect today's developing economies to undergo the same pattern of growth?

5. Use simple graphs to describe demographic & GDP-structure changes accompanying Modern Economic Growth.  

What are the main factors that can help account for each of these?

6. What accounts for the mortality transition? What, in your own view, accounts for the fertility transition?

7. Using simple graphs, describe the demographic and GDP-structural changes that accompany modern economic growth. What are the main factors that can help account for each of these?

8. What are the consumption good, investment good, and insurance good hypotheses for the birth rate transition?  

Critique these theories and explain which one you find persuasive.

9. What is the Harrod-Domar equation? How does it explain economic growth? What are some of the factors relevant to growth that it leaves out?

10. How does Adam Smith explain economic growth in terms of his ideas concerning the social and technical divisions of labor.

11. What is the mechanism in Ricardo’s theory that makes labor supply “endogenous”? Draw a graph showing Ricardian long-run economic growth.

12. How is economic structure described in the Lewis model? What are the sources of surplus labor in that model?

13. In what sense is the Lewis model of economic development similar to the classical theory of Ricardo’s and yet also different from the classical theory?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
A limited has an authorized share capital of 200,000 shares of Kshs. 1 each out of which only 150,000 shares have been issued. Although the firm requested the shareholders t
You pay a marginal rate of 3% on the first $10,000 of income and a marginal rate of 5% on the second $10,000 of income. You make $18,000 a year, how much is your income tax?
Provide a rational for why you feel the new target market and pricing strategy would be successful and the likely impact to the profitability of the firm.
As Disney, Inc. was set to open the gates to its Hong Kong theme park, the company was broadsided by protests and calls for boycotts by environmental groups. Sparking the cont
Explore in particular how the firm responds to the macroeconomic conditions in terms of the stock performance, current also future sales revenue, current also future profits
Use the following information for the next 9 questions. You should draw a graph that depicts the situation below and use your picture to answer the questions. Assume that wage
The following information describes the value Lori Landlord places on having her five apartment houses repainted. She values the repainting of each apartment house at a differ
The Solis Company has estimated the demand curve for its product is represented by the equation: where is the quantity sold per year and is the price per unit. (a) Based on th