The Lewis model is a classical type model based on the assumption of a
Answer: dual sector economy

The nominal GDP is usually higher than the real GDP because of
Answer: price changes

The endogenous growth theory also known as the
Answer: new growth teory

Marx believed that between the classes is majorly caused of conflict.
Answer: struggle

Economie development can be said to be economic growth plus
Answer: changes

The Harrod model like that of Domar, examines the possibility of
Answer: steady growth

Adam Smith wrote his book “An Enquiry into the Nature and causesof the Wealth of Nations� in
Answer: 1776

Balanced growth and unbalanced growth both focus on
Answer: economic growth

The Solow Model focuses on four variables
Answer: y, k, I and a

There is everywhere in the world, particularly in South Asia, Africa and Latin America countries
Answer: poverty

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