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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?
Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That mean
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Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
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