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Problem:
i) Differentiate between economic development and economic growth.
ii) Describe carefully how, using the expenditure approach, national income is calculated.
iii) Critically analyse the different measures of economic development.
iv) Describe using diagrams why a 10% increase in investment leads to a higher percentage increase in National Income?
(Granger, 1969, 1988), where it can be addressed in terms of a VAR (vector auto regression) system. If an export platform is important for the country, FDI inflows should result in
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Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
The Market Mechanism Features of the equilibrium or market clearing price: – QD = QS – No shortage or scarcity – No extra supply price. – No pressure on th
sources of oligopory
Explainbainlimitpricetheory
The demand for one of Parsons products has increased over the last few years and, despite the extensive use of overtime and weekend working, the company has been forced to sub-cont
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Random sampling is a technique for sampling which we can select a group of subjects or a sample for study from a larger group or a population. Each entity individually is chosen en
Problem: (a) Consider the Classical Linear Regression Model (CLRM) Y i = α + βX i + ε i (i) Using the method of ordinary least squares (OLS), derive an expression for
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