All of following are reasons why the economic growth under the linear stages of
ID: 1135302 • Letter: A
Question
All of following are reasons why the economic growth under the linear stages of growth did not translate into rapid increases in economic growth for developing countriesexcept
A these models were based on classical theory that failed to account for differences in initial conditions in developing countries
Bthese models lacks emphasis on the difference in instiutional quality
Cthese models assumed all developing countries had a fixed population
Dthese models assumed excess labor supply which is not always valid.
Explanation / Answer
the economic growth under the linear stages of growth did not translate into rapid increases in economic growth for developing countriesexcept these models assumed all developing countries had a fixed population