Malthus Model

Question 1

General Idea

Answer 1

population grows exponentially but we have limited resources which result in positive and preventative checks that keep the population constant

Question 2

Is population endogenous or exogenous?

Answer 2

endogenous

Question 3

Examples of positive checks

Answer 3

disease, starvation, wars, conflict

Question 4

Examples of preventative checks

Answer 4

moral restraint, delibrate attempt to reduce fertility

Question 5

Explain what happens when population increases

Answer 5

as population increases, the limited number of resources must be shared between more people, so living standards fall as income per capita falls.
As people have less resources, they have less resources to procreate, and therefore fertility rates fall to a point that is below the death rate. There is negative population growth, and as the population declines, people have more resources as they are now shared between less people which brings the fertility rate back up to the point where there is no population growth, population back where it was

Question 6

What happens to living standards?

Answer 6

Roughly remain constant over time

Question 7

Why did the Solow model breakdown

Answer 7

living standards increased with industrial revolution and demographic transition not as predicted
fertility supposed to keep rising with income
mortality to rise due to checks from competition of resources