Question

Imagine you are a citizen of the world prior to the internet's creation, one day you...

Imagine you are a citizen of the world prior to the internet's creation, one day you wake up to find out the internet has been invented. Interpret this shock in terms of the Solow growth model.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

ANSWER:

​​​​​​

First we can understand what is Solow Growth Model? Solow Growth model is a economic growth model for long run economic growth which is set within the framework of neo classical economics. It attempt to explain long run economic growth by looking at capital accumulation, labour or population growth which tend to increase in productivity, commonly referred to as technological process.

So if I wake up in the morning and see there is something new arrived name as internet.So firstly I resist or hesitate to use because I don't know how to use this new technology but with a longer span of time i can grab knowledge about how to use and then I am able to use internet and then I got all things on my finger tip so from this according to Solow Growth model it is help ful for longer run span of growth of the country.

​​​

​​​​

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
(ii) Imagine you were shown prior student feedback on the course and one comment was “I...
(ii) Imagine you were shown prior student feedback on the course and one comment was “I am doing Business major X, why do I have to do a statistics course? It is not relevant”. Unfortunately, you do not know which major, X the student was referring to. Select the number of Business Majors at RMIT equal to the number of people in your group and illustrate an example of a simple or multiple regression model relevant to each of the...
Imagine you're named an Economic Advisor to the president of a very poor and backward country...
Imagine you're named an Economic Advisor to the president of a very poor and backward country (Sandokistan).   The President asks your advice on where they should use their very limited resources so that they can help escape the poverty trap. Should they invest in existing, traditional tools (think tractors, computers, known manufacturing techniques) or should they invest in cutting edge research where they might become a market leader? Please explain why you selected the option you did.   Conversely, why didn't...
Imagine you have a nice garden in your back yard and one day you get new...
Imagine you have a nice garden in your back yard and one day you get new neighbors who have a pet llama. This llama sometimes gets loose from his enclosure in the neighbor’s back yard and comes over to your property and eats up some of your garden. Since the llama is on your property, if you call the police, they will make your neighbor get rid of the llama. Is this what Ronald Coase would suggest you do? Explain...
<Elementary Physics> Look up the “twin paradox” and answer the following questions: Imagine one of your...
<Elementary Physics> Look up the “twin paradox” and answer the following questions: Imagine one of your friends is a flight attendant and spends five years flying around in jet planes. By how much will your friend’s age be different than it would have been if the friend had spent that time hanging out at home. Older or younger? Now imagine the same but for a friend who is on the International Space Station for five years? (In detail this question...
1a. You wake up one morning to find yourself in a strange room with opaque walls,...
1a. You wake up one morning to find yourself in a strange room with opaque walls, and no visible doors or windows. You decide to do some experiments to find out more about your strange situation. Your own body mass is 51.0 kg. You pick up an object and drop it from rest, starting at a height of 1.01 meters above the floor, and it hits the floor 0.136 seconds later. You can ignore air resistance. Based on the outcome...
1a. You wake up one morning to find yourself in a strange room with opaque walls,...
1a. You wake up one morning to find yourself in a strange room with opaque walls, and no visible doors or windows. You decide to do some experiments to find out more about your strange situation. Your own body mass is 60.4 kg. You pick up an object and drop it from rest, starting at a height of 1.64 meters above the floor, and it hits the floor 0.289 seconds later. You can ignore air resistance. Based on the outcome...
Reply to the comment below. Do you agree with disagree with the statements. Something that caught...
Reply to the comment below. Do you agree with disagree with the statements. Something that caught my eye that I was not previously aware of was that the "Mexican Modern Art Movement" was not only based on Mexican sources, in terms of technique. The art has been influenced by European and Indian sources as well. The Spanish invasion caused the integration of the Indian's natural talent in the visual arts with European technique. I was surprised to find out that...
One summer morning, after drinking a soda, you tighten the cap back on its empty 20...
One summer morning, after drinking a soda, you tighten the cap back on its empty 20 ounce plastic bottle and leave it in your car. Returning to your car later that day, you find that the bottle has somewhat swelled up, looking like it is about to burst. In terms of heat and thermodynamics, explain what has happened to this bottle.
One day you run into a friend from college, who is operating a direct mail company...
One day you run into a friend from college, who is operating a direct mail company which is in the business of gathering and selling names for marketing ventures. Her company has no privacy policy and she does not provide an opportunity for people to “opt-in” or “opt-out” of the marketing lists. You have a database of contacts based on your own sales efforts. She offers you the opportunity to share databases – for each name you submit to her...
) Imagine that you are a grad student in Biological Anthropology, and you travel to the...
) Imagine that you are a grad student in Biological Anthropology, and you travel to the land of “Jenesaiquoivia” to study Jenesaiquoivian genetics. [Footnote 1] You notice that 9 out of every 100 people in your study group have blue eyes. The rest of the population have brown eyes. You know that the brown eyes allele is dominant, and blue eyes is recessive. [2] Construct the Hardy-Weinberg equation for that population. You know that q2=.09 (9%) so p2 plus 2pq...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT