Hello. I’ve just finished your questions. I’m quite happy with my work and double checked it all, please let me know whether you are happy with it too. I will be going to sleep soon so it would be great if you could give me some feedback in the next hour 🙂 Homework II1. In the Harrod-Domar model, if the savings rate is 20% and the incremental capital output ratiois five, abstracting from depreciation, what is the implied growth rate?Growth rate = Rate of savings / Capital output ratioGrowth rate = 20% / 5 = 4%2. Why must projects be appraised? What do we learn from project appraisals?Projects must be appraised for various reasons. The most important being that a project with acost bigger than the benefits it brings should not be invested in. Appraising projects enable us tomake informed decisions when choosing between projects. We can learn about the technical aswell as economic feasibility, thus how much a company could gain from a project, whenappraising it.3. How does the Washington Consensus differ from the Santiago Consensus?The Washington Consensus differ from the Santiago Consensus in the sense that the SantiagoConsensus includes and place focus on the following:•Ensuring a sustainable environment,•Education and training,•Research and Development investments,•Constructing infrastructure,•And more efficient taxes in an attempt to reduce inequality.4. What economic benefits might a developing country gain by reducing corruption? Discussonly economic benefits and provide examples from specific developing countries.When developing countries reduce corruption, they can gain economic benefits like a rise insocial welfare, a fall in the inflation rate of the country, a rise in foreign exchange reserves, and asmaller inequality gap. An example of a country in the midst of this process is Brazil. Brazil’sinflation rate was 9.03% in 2015 and is now, in 2021, estimated to be 2.91%.5. Briefly explain the major argument of the factor endowment trade theory.The factor endowment trade theory argues that different products require productive factors indifferent amounts and that countries have different endowments of production factors. Trade canthus help countries to develop further and faster since each country will focus on using theproduction factors they have in excess and exporting what they produce form it, while importinggoods made using the production factors the country has a shortage…
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