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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.
A major component of the costs of many large firms is the cost associated with ordering and holding inventory. If the yearly demand for the good is D and the size of each order p
Suppose the supply function for product X is given by Qsx = -50 + 0.5Px - 5Pz. A. How much of product X is produced when Px = $500 and Pz = $30? B. How much of product X is p
What is the price elasticity of demand? It is the Defining and Measuring Elasticity. The price elasticity of demand is the ratio of the percent modification into the quantit
If a country allows trade and, for a certain good, the domestic price without trade is lower than the world price. A) the country will be an exporter of the good. B) the country
In a city of 120,000 people there are 20,000 Norwegians. What is the probability that a randomly selected person from the city will be Norwegian?
according to this example,how much value do each book contribute to the GDP? a) a forester chop down 100 trees and sell them @$100 to the paper and pulp factotry
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
the suitability of utilising a policy of tariffs and quotas given the case of perfect competition.
Why and how does free trade help the U.S. economy? How might free trade hurt the U.S. economy?
Some manufacturing and agricultural products produced in the Midwest are exported to overseas markets. US consumers and businesses also purchase many products produced outside the
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