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What are Rostowís assumptions? Assumptions of Rostowís: • Economic development procedure is universal which is all countries whether within Africa or Asia go by the same se
Why does economic development engage structural change? The process of development needs structural change. Usually economies develop by moving resources through agricultural
What are the requirements of national figure to adjusting? National figures first require adjusting: • For population: Dividing Gross Domestic Product (GDP) by total populat
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QUESTION (a) Explain the 3 different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standard of a population? Discuss
Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the
Define the aggregate price level in the macroeconomics. Aggregate Price Level: A nominal measure is a measure which has not been adjusted for modifications into prices
What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health
The word double-dip is a negative -situation .This scenario has economically shall move back and switch in to a deeper and longer worse situation. A double dip recession states to
In what conditions might you consider increasing the volume and/or frequency of quality control checks? What time might you decrease their volume or frequency? A team member is
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