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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?
what is economic model and role of assumptions in it.
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choose a topic from microeconomics that matters to you and find a recent news article covering that topic?
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