In the context of economic growth models, the Harrod-Domar model emphasises:
A. The role of savings rate and capital-output ratio in determining growth
B. Only natural resource endowment
C. Only labour force growth
D. Only technological progress
Answer: Option A
Solution (By JKSSB Mock Tests)
The Harrod-Domar model states that the growth rate of output depends on the savings rate and the capital-output ratio (or the productivity of capital).
Explanation:
The platform economy consists of digital multi-sided platforms that facilitate interactions and transactions between different groups of users (e.g., buyers and sellers, drivers and riders) and typically display network externalities.
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