Developing economies usually have
Economic growth as a concept is more relevant for
Which economist gave importance to agriculture produce in capital accumulation in underdeveloped countries?
According to Michel Todaro, three core values of development are
The theme of world development report 2001, was
Development is impossible without
If growth rate of output is 5% per annum and population growth rate is 2% per annum, what will be the per-capita growth rate of the economy?
One criticism of Rostow's theory of economic growth is that
Surplus labour theories assume that
The golden rule level of capital accumulation is defined as the level of the capital stock that achieves a steady state with the
In the Lewis model of economic development, the capital sector generates and reinvests surplus and in turn, absorbs labour withdrawn from the subsistence sector. The process continues till
Leibenstein in his critical minimum effort thesis treats population as a factor that is
Dusenberry was of the opinion that less developed countries will have serious and adverse effect of their balance of payments due to
Assuming a closed economy, the figure below displays the critical equation of the Solow growth model for an economy with zero labour force growth and no technological progress. The vertical distance BA represents.
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The concept of 'shadow prices' was first defined by