Solow-Swan Model Quiz and Flashcards: Long-Run Economic Growth

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Which economic model attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress?

The Cobb-Douglas model

The Frank Ramsey model

The Solow–Swan model (correct)

The Keynesian Harrod–Domar model

Who developed the Solow–Swan model?

Robert Solow (correct)

Trevor Swan

Frank Ramsey

John Maynard Keynes

What type of aggregate production function is often used in the Solow–Swan model?

Logarithmic

Exponential

Cobb-Douglas (correct)

Linear

What mathematical characteristics make the Solow–Swan model attractive for various extensions?

Particularly attractive mathematical characteristics Signup and view all the answers

In what year was David Cass and Tjalling Koopmans' integration of Frank Ramsey's analysis of consumer optimization with the Solow–Swan model?

1965 Signup and view all the answers

What are some examples of large language models?

Some examples of large language models are ChatGPT and Google Bard. Signup and view all the answers

How are large language models trained?

Large language models are trained on huge amounts of data. Signup and view all the answers

What is the purpose of training large language models?

The purpose of training large language models is to enable them to perform various tasks such as web searches, creative writing, and knowledge retrieval. Signup and view all the answers

What is the abbreviation LLMs stand for?

LLMs stands for large language models. Signup and view all the answers

What are some potential limitations of large language models?

Some potential limitations of large language models include the lack of transparency regarding the data they are trained on and the need for caution in trusting their output. Signup and view all the answers