Economic model describing growth of the economy on one or at most a few sectors and variables?
Correct answer: C. Aggregate growth model
- A. Formal growth model
- B. Functional growth model
- C. Aggregate growth model
- D. None
Explanation
An aggregate growth model explains economic growth using economy-wide variables such as total output, saving, investment and labour. It does not focus on the detailed behaviour of individual sectors or firms.
Last updated
Practise Agricultural Economics and Extension
190 free Agricultural Economics and Extension MCQs from Agriculture, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Agriculture questions like this
Agriculture is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
Related questions
A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
A. Cetris peribus stands for__________________?
A closed economy that attempts to be completely self-reliant ?
A commercial bank authorized by state govt. to engage in business of banking ?