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Economic Growth:
Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income. A country is said to experience economic growth if overtime, its real output (real GDP) increases as well as its real per capita income.Economic planning involves the conscious allocation of resources by the government to the various sectors of the economy to promote rapid economic growth. This is done through development plans. There are three dimensions to development planning namely: resources accumulation resource allocation and resource management.A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to know e.g. sex, age, educational and occupational backgrounds, religious affiliation, nationality, etc.
Public Administration: According to L.D. White, "Public administration consists of all those operations having for their purpose the fulfillment or enforcement of public polic
distinguish between Isocost and Isocline
Deviation from ideal gas behavior The Van der Waal''s Equation This is observed, deviations from gas laws are high under high pressures & low temperatures. The Van der Waal suggest
Movements of the demand curve itself, either to the left or right are known as changes in demand. A change in demand is caused by a change in one or more of the nonprice determina
1. Consider the consumption decisions of R.B. Turbo, a new student at Teachers College, Columbia University. Ms. Turbo has only available $1,000 in monthly income to spend on food
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
how is price and output equilibrium determined in Williamson''s model of managerial discretion?
friedman and savage hypothesis
Consider a family saving function for the population of all families in the United States: sav = β 0 + β 1 inc + β 2 hhsize + β 3 educ + β 4 age + u where hhsize is househol
A firm has two plants. One plant produces according to a cost function cl (91) = Yf. The other plant produces according to a cost function c2(y2) = Yg. The factor prices are fixed
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