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What is the difference between economic growth and economic development?
Growth is only individual dimension of development. Economic development is a complicated multi-dimensional concept to do along with enhancements in the human well-being, particularly for poor people. A seer explains development as the elimination of poverty and reduction, inequality and unemployment into a growing economy.
Balance of T rade A country's present account reflects a money drain when exports exceed imports. The net distinction in-between the dollar value of a world imports an
America can produce 100 shirts or 20 computers and China can produce 100 shirts or 10 computers. With trade, who exports shirts? Which country benefits from the trade?
Address the following issues concerning technological and strategic barriers to entry. (a) Explain the role of economies of scale and (long run) fixed costs as technological bar
If a social entrepreneur is relying on contributions, are there not risks in being accountable and using that money wisely?
How can we define the real wage as nominal wage We define real wage as nominal wage divided by a price index (typically CPI). In the illustration above, your real wage was 20 i
For which of the following medical goods or services is the income elasticity of demand largest? a. emergency services after a car accident b. measles shots c. physical ex
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
Suppose a major brokerage firm advised its clients to buy cigarette stocks under the assumption that, if consumer incomes rise by 50% as expected over the next decade, cigarette sa
When single business or corporation dominates its area and squeezes out all its competition, the result is the consumer does not have a open choice, and inevitably, the price of it
You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia. A recent report indicates that nearly 50 Americ
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