Towards the end of the 16th century the potato (originated in South America) was brought to Europe. Within a short time period it became the prime agricultural crop in Ireland. The population of Ireland was about 1.4 million in 1600 and increased to about 8.4 million by 1841. The Irish economy was in a Malthusian state throughout this period. According to the Malthusian model, (a) What should have been the increase in productivity due to the introduction of potatoes so as to generate (alone) a 6-fold increase in population? (b) Draw the phase diagram that describes the evolution of population from one steady-state to another. (c) What should we expect the level of income per capita to be in 1841 relative to the level in 1600?

Towards the end of the 16th century the potato (originated in South America) was brought to Europe. Within a short time period it became the prime agricultural crop in Ireland. The population of Ireland was about 1.4 million in 1600 and increased to about 8.4 million by 1841. The Irish economy was in a Malthusian state throughout this period. According to the Malthusian model, (a) What should have been the increase in productivity due to the introduction of potatoes so as to generate (alone) a 6-fold increase in population? (b) Draw the phase diagram that describes the evolution of population from one steady-state to another. (c) What should we expect the level of income per capita to be in 1841 relative to the level in 1600?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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