Economics · Economic Planning and Models
A developing economy is currently experiencing a capital-output ratio (COR) of 4:1. The government aims to achieve an annual GDP growth rate of 7 percent. According to the Harrod-Domar model, which was the basis for India's First Five-Year Plan, what must be the required rate of domestic savings to meet this target, assuming no foreign capital inflow?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 135 percent
- 214 percent
- 328 percent✓
- 421 percent
Correct answer
28 percent
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