HARROD. DoMAR...HoDEL.

Produeliom. xed.Coeieientono
.Rs

9KbLef
YTotal.output6theecomom
tA997egate.amóunts..fcapi t a .
..Lt.Aerehote amount.a.Labou..
o
b= iked. posiimeCceients,

=Outpu Coupita matio.

Cutpu labow ato
- * * - - - -- - -

Suppose..th.
he.coumrY. oeupopulated
Sa..m.in.0.kebLt{= 0k.

. Capilalsusaa.more (icienty))
= 9Ke
Say eapi ta ouB pulsaia.
Qobita ed
Capital u in.aggreqofe
.gregote
Output .by(Yc=9
 losed eeomomy mointlowor

Outle ekbira
domustie..capikal.aceumulati.om.
La 0TmOd duoto. dametie SaYings

MPS..amd... SaYimgEnNOstmeM .
a.depaciotio
Change.in...abitl stock
dRe/t= ke= Te 6YE=SVKE ---

- -- -

ke/at Kt.bY.
Kt

Yt=9k=
ctami)

ZNatioma nc ome.
at..gregaie )- - - -

T0Ws.at..aate equal to U4n

SavimgTate () divided by ecbital.
-OutpuCC)aio
 A- 3/c
- - - - - ---

ecomomiegTo coth..n.aON9populat
lessdenelefped Cdsntsuy.La..Cmatrainad.
. toSoring.ptbpensiky....0nd..
0nd
Joc eapital prodeclirity. low
.andugh..c.
topulationG10th.
--A.
(8L+/dt)/L+ =Le=2
POnaloitanaone. = .=
LE

e.Lapita.me come...rocathate...

This.
This.
-

aid..i.thane..is.ma.labaus
Shostage
ree possibilihes
./¢2n..= 2.0. A--.
L2 /C. K
K
c =m =
H0steadystate
 (3).. 8/=2 H 4D. =2 gr. Tate.-
pe.apita.income. lamegatire
nembloyontprablm.
agqaYatej

Steady SAakeiAggegote. YATiakles

CYt.Kt..Le). 9ro at..he. Same
Mate heneo pe apita....Yauable
e eTnazm Conslamt..
I9rowth Path -- - - - - - - - -

Suppose-anunden denelaa@d...Couny.
Staonts...is 0LhMAy.
phase exco» Su olabou
=wnenployment.YYKE.
A

H/n)
SA.hon...ggregcute meom..
On .aggreqale.capital gbw. at ..the
amd
comtantate()and nembloyonent
9vadualu YanIshes..

9d phaseAften naeung a jull

 mbloyamo tha. grocath..ate..a
moutioma..neomeCY)ond...eapikal.(ke)
Cetae. Cotsoinedbythe Pobulatiom
rate.
YKE=Lt=
Lemg .steady.State.

3d phase . ExcesS.S PPly.capikad

Y A
bLt
Ye Lt...n
and. e.Capita...1nComg..Jt..doe».n0t.

He7ehe..econD.my..has.. dleabita
amd.he....exeoss. apaeity ce A0