This is a four-part question:

a. The Harrod-Domar model is part of the linear stages of growth theories. What are the three common features of these models as far as explaining how growth occurs?

b. What is the source of growth according to the Harrod-Domar model?

c. Is the Harrod- Domar model likely to be useful as an explanation of growth in developing countries? Why or why not?

d. Explain the ways in which modern growth theory is preferable to the Harrod-Domar model as an explanation of economic growth.