Growth And Development Flashcards
1
Q
A
Growth is necessary for development but is not sufficient
2
Q
Growth vs. Development
A
Growth - quantitative
Development- qualitative
3
Q
Growth
A
Increase in real GDP
4
Q
Harrod Domar model
A
The harrod domar economic growth model stresses the importance of savings and investment as key determinants of growth
5
Q
Lewis model
A
Moving workers from rural (agriculture) to urban (industrial) leads to growth
