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Differentiate economic growth and economic development.
Economic growth is a raise into real GDP. GDP is only one dimension of development and therefore is a narrow measure of economic welfare.
Economic development is extensive and to do along with key aspects of human well-being. Generally economic development needs:
• Sustainable economic growth,
• A reduction of poverty, inequality and unemployment
• Enhancements in life expectancy, educational achievement, individual self esteem, expanding economic and social choice
• A decrement in fear of starvation and fear of ruin through one bad harvest.
The U.S. Department of Agriculture, nass.usda.gov, publishes charts on the prices of farm products. Go to the USDA home page and select Charts and Maps and then Agricultural Prices
You should now find a press release from the Board of Governors of the Federal Reserve System, dated December 16, 2009, which discusses the decisions of the Federal Open Market Com
y=vk ?k=s*f(k)-(?+n)k saving rate 28% population growth of 1% Have y persistent size s, n, g and ?function
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