(Answered) The process by which economics test hypotheses against

Economics

Q. The process by which economics test hypotheses against facts to develop theories, principles also models are called Illustrate what?

Q. Assume a closed economy, perfectly elastic labor supply also linear technology. Assume the
incremental capital-output ratio (ICOR) is 3, the depreciation rate is 3% also the gross savings
rate is 10%. Utilize the Harrod-Domar growth equation to conclude the rate of growth. Illustrate what would the gross savings rate have to be to achieve 5% growth?

Q. Since it is counted as investment, why doesn't the purchase of earthmoving equipment from China by a U.S. corporation increase U.S. GDP?

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