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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.
Inflation (RPI) - another imperative channel. Oil is a necessity for the UK, and is price inelastic therefore one can analyse the correlation between a price shock and inflation. I
The Red Lobster sells fresh seafood. Red Lobster receives daily shipments of farm-raised fish from a nearby supplier. Each fish cost $2.50 and is sold for $4.00. To maintain its re
NATIONAL INCOME STATISTICS
Should the government increase, decrease or remain the same in its level of intervention when it comes to mandating that companies provide product information to consumers? What ha
Because discretionary Income = the money people have left over once they have paid for all of their basic needs (Food, Clothing, Shelter). You could also call it Disposable Inc
Assume that the economy is characterized by the following structural equations: C = 160 + 0.6 (4 - T) I = 150; G = 150; T = 100. a) Determine the equilibrium output level
Consider the economic data for Country A: Unemployment level of 15% Natural Rate of Unemployment is 6%. Required Reserves is 25% C = 50 + 0.75Y; I = 600; G = 250 (note: T = 200 for
Determine on any market the effect of the following. Do each separately (on a separate graph) starting from an initial equilibrium position for each one. 1. increase in income
Differentiate between Actual and Potential output. Actual output is that level which economy in fact produces. In contrast, potential output is the aggregate capacity output o
What is Trade liberalisation Trade liberalisation is the removal of barriers to trade. This has mainly taken the form of restrictions created by national governments like quot
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