How would government's role differ between the balanced and unbalanced growth models?
What will be an ideal response?
Balanced growth requires a broader range of government decision-making. Unbalanced growth suggests that government intervention can be limited, and it will then induce growth in the private sector.
You might also like to view...
Which of the following is true of a monopoly? a. The price charged by a monopoly is lower than that in other markets. b. New firms can enter a monopoly
c. A monopolist is a price setter. d. Substitutes are available for a monopolist's products.
When individuals and businesses are permitted to trade freely over a larger market area,
a. wages will decline to the level of the poorest country in the region. b. the monopoly power of business firms will increase. c. they will be able to produce a larger output and consume a more diverse bundle of goods. d. businesses will be able to earn higher profits, but the income levels of individuals will decline.