please can someone help me answer this?I need help with numbers 8 and 10 please

Question

please can someone help me answer this?I need help with numbers 8 and 10 please show work as I would like to learn how to do this myself.

7. How does population growth affect the steady.In the Solow growth model, which variables state levels of capital and output per worker? are exogenous and which are endogenous? Productivity Growth in the Solow Model 9. How does an increase in total factor produe- tivity affect output per worker? Summing Up the Solow Model 10, What are the four basic results of the Solow growth model? What is the model's chief weakness?

Explanation / Answer

8) In Solow's neo-classical growth model, the long-run equilibrium growth rate is exogenous. The rate of growth becomes an endogenous variable.

10) The four basic results of the Solow growth model : -

Solow's growth model essentially treated technological change as being external , whereas empirical research has generally found that technological change accounts for a high proportion of economic growth . Having one of the main factors accounting for economic growth as exogenous could be regarded as the model's chief weakness .

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.