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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.
The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries. a. Calculate the number of people in the lab
Summary of the cross model The below list summarizes the cross model and associates it to classical model: Labor Market: Real wages W/P is exogenous in cross model
There are many other macroeconomic indicators which one might expect to be affected following an oil price hike. Perhaps more obviously affected than GNP is inflation. DePratto et
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exam notes of national income accounting
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Consider an economy that having only of those who bake bread and those who make its ingredients. Assume that this economy's production is as follows: 1 million loaves of bread
what are the limitation of economies scales
why is international trade important for South Africa?
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