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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.
what are the limitation of economies scales
Suppose the demand and supply for milk is described by the following equations Qd=600-100P; Qs=-150+150P Where P is the price in rand, Qd is the quantity demanded in millions of l
1. Which function of money is disrupted as a result of high inflation? Why? 2. The central bank of Fiji has issued $1,000,000 in Fijian dollars. What is the size of m
the classical model assumes that consumption depends positively on disposable income. now suppose that consumption also depends on the real interest rate. a) sketch the loanable
What is productivity? Productivity or average product (AP): It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can
A bakery has fixed costs of $10 per day and variable costs of $1 per loaf. Its oven can handle up to 50 loaves a day and it is impossible to obtain additional capacity. Sketch the
how is credit creation by commercial bank
To overcome the stagnant growth it was experiencing for the past 10-15 years, Japan undertook which of the following measures? Answer Undertook programs to build infrastructure
Q. Determination of GDP in the cross model? In the cross model, GDP is determined as the solution to the equation Y D (Y) = Y We may explain
This problem substitutes financial health with housing in a 2 period consumption savings model. The representative consumer has the utility function u(c1, c2) = lnc1 + lnc2 with ea
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