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What are the critics of advocates of World Bank in promotion of development? Critics of the World Bank argue: • A one-size-fits all strategy which does not take account
abnormal supply curve
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi
How can less developed countries economies produced by developing its primary sector as agriculture? Less developed countries economies cannot grow by developing its primary se
B. Complete the following table
Evaluation of perfect competition arguing the effect on stakeholders, priorities and SR/LR
QUESTION Explain the meaning of classical dichotomy, neutrality of money and Walras law. b. "In a Walrasian general equilibrium model with money as a unit of account, only r
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