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DEMOGRAPHIC FEATURES IN DEVELOPMENT:
We have learned in the previous unit that human resources play a significant role in generating aggregate flow of goods and services. The difference in the growth of national income and the per capita income is explained by the growth in population. Hence, in this unit, we will discuss demographic features and indicators of development. Human resources have a two-pronged relationship with economic growth. As a resource, people are available as factors of production to work in combination with other factors of production like land, capital and enterprise. As consumers, human beings make demand on the national product of the economy. The size of population, therefore, is a crucial determinant of economic growth. A large population may not necessarily contribute to economic growth; in fact, a large fast-rising population may find itself in a situation described by economists as 'over-population'. A related question is: Does economic growth alone constitute economic development? The answer is simple 'No'. Then, What is economic development? What are the indicators of economic development? After reviewing the demographic profile of the Indian economy, we, in this unit, will also address the related question of indicators of development.
Consider the following: "The physiocrats spoke of the natural order and favored laissez-faire yet strongly supported the absolute authority of the monarchy." Analyze this supposed
Ask question #MinDerive the isoprofit function ?imum 100 words accepted#
C=Ca+.95(Y-T) Ca=400-20r T=1200 + .4Y (M/P)^d = .35Y - 5r (M^s/P)=2000 Ip=1500-20r G=2200 NX=500-.06Y a. Compute the multiplier b. Derive the equation for Ap c. Derive the equatio
Capitalism is the dominant, most used form of government there is in the globe today. Presently, over 80% of countries use capitalism and a free market economy.
Q. Explain about Price Inflation? The major reason for allowing for non-constant wages in the model is that we then can allow for persistent deflation/inflation. With constant
Equilibrium in both the goods and in the money market If both the goods- and the money markets are to be in equilibrium... ...if P increases, Y must fal
Christina Romer and Jared Bernstein in "The Job Impact of the American Recovery and Reinvestment Plan" calibrated the impact of the proposed expansionary fiscal policy (we know it
what is keynesian model
An economy's IS and LM curves are given by the following equations: with Y indicating output (income), c indicating the marginal propensity to consume, I investment, G gove
Suppose the inverse demand curve for a market is equal to p = 100 -- 0.3Q. The inverse market supply curve is p = 20 + 0.5Q. 1. Calculate the equilibrium price and quantity;
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