1. According to the theories discussed in class, what role does technological progress have on growth?
2. Of the theories discussed in class, which can be described as deductive? Which as inductive? What is the difference?
3. Based on the theories presented in class, what role does the government have in increasing growth? This is not a short answer. I expect at least two pages with several examples.
4. What is agglomeration?
5. What is the significance the the export sector and how does it affect community economic development?
6. Some central place terminology includes central places, range of a good, and demand threshold. What do these term mean and how are they linked to community economic analysis?
7. If you had two goods with the below direct requirement matrix, what is the direct and indirect requirement matrix?
Production |
Good A |
Good B |
Good A |
0 |
5 |
Good B |
18 |
0 |
If you want to produce 10,000 of each good for purposes other that producing either good A or good B, how much should one produce of each good?