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Explain the following question.
a)The role of agricultural cooperatives in economic development.
i. help eradicate poverty among farm workers.
ii. increase the productivity and household income of small farmers.
b)The role of reducing poverty
i. borrow from cooperatives to help them pay the cost of living and improve lives.
Suppose you just had a new addition to your family. If you put away $600 a year ($50 a month) in an investment earning 10% per year
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Given that the US economy production function (to calculate current GDP and potential GDP) is : GDP = Y= F(K,L,N) = 0.04K+0.03L+0.03N. The current GDP is produced with K=200, L=100, and N=100, the full employment GDP (potential GDP) can be potentiall..
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