How do you understand the term the great divergence

Assignment Help Business Economics

Reference no: EM13891947

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?

Reference no: EM13891947

Questions Cloud

Suppose the council of economic advisors : Suppose the Council of Economic Advisors (CEA) hired you as an Economist (Economic consultant). The head of the council tells that she believes the current unemployment rate of 9 % is too high.

How simultaneous shifts in demand and supply curves : Explain how simultaneous shifts in demand and supply curves could explain this situation: A pest attack on the tomato crop increases the cost of producing ketchup. A mild winter causes cattle herds to be unusually large, causing the price of hamburge..

What the long-run effects would be on real gdp-public saving : Many people believe that Congress will eventually have to reduce Social Security benefits in order to reduce the budget deficit. Although most of the changes would not take place until later, assume for the purpose of this problem that Social Securit..

An education in equality and learning begins at home : After viewing “An Education in Equality,” “Learning Begins at Home,” “A Military Education,” and “an Education,” write an organized and well-supported essay in which you make three observations about education and what impacts (and enhances) student ..

How do you understand the term the great divergence : How do you understand the term “The Great Divergence”? List & explain the causes of The Great Divergence. Compare and contrast the factors that are mainly responsible for the growth convergence of East Asia and the growth divergence of “The Rest”. De..

What is the basis of the concept of human development : What are the key limitations of per capita national income as a concept of well-being? Explain the nature of limitation in each case. Which of these limitations can be adjusted for? Are they in fact adjusted? What is the basis of the concept of huma..

Draw the international trade equilibrium : Suppose there are two goods being produced in the economy: robots and wheat. Robots are a capital intensive good and wheat is a labor intensive good. Suppose that there are two countries: France and Brazil. France is capital abundant and Brazil is la..

Determine substitution effect-income effect-total effect : Let the consumer begin in utility maximizing equilibrium at point A on indifference curve I. Next the price of good X changes so that the consumer moves to a new utility-maximizing equilibrium at point B on indifference curve II. Write the linear de..

What is the law of comparative advantage : What is the law of comparative advantage? How do you use it to support free trade in the world? What international institutions were created and how have they worked to liberalize international trade?

User Account

All Pages