(a)
“If less developed countries have to develop, the surplus labor in rural
areas should be moved to urban centers.” Discuss this statement by
highlighting the main arguments of Lewis model.(10 marks)
(b)
Critically examine the doctrine of balanced growth as put forward by
Rosenstein-Rodan and Nurkse.(7 1/2 marks)
3. (a) Given that
Y = F(K, L) and K
? = sY – dK , derive and explain the two basic equations
of Solow model.(4 marks)
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