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Economic Development
The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word used was ‘disvelop’. The French replaced this word in 1656 with ‘develop’ which meant unfold or unwrap. The act of unwrapping may also be interpreted to mean expanding, diversifying, redistributing the contents. The popularity of the term development began with decolonialisation.
Going through several conceptual metamorphosis through the decades, currently development is taken to mean economic growth that is contributed by a large cross-section of the population which in turn would also mean large scale employment, increasing incomes and a resultant appreciation in the quality of life of the people. The distributional effects of growth [i.e. ‘growth with and through justice’ policy or the ‘equality in growth’ dimension] are incorporated in the current conception of development.
Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to
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Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
Explain crowding out and why it may be considered important for policy makers. Crowding out refers to how enhanced government borrowing (real borrowing!) might serve to raise i
how slustky equation provides neat analytical expression for substitution and income effect?
How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
If a large amount of skilled labor immigrated into the country, which allows the available resources to produce more of goods X and Y, which of the following will occur? A.the y-i
GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
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