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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.
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
Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
Economies of Scope in the Trucking Industry * Questions: - Economies of Scope - Are large-scale, direct hauls cheaper and more profitable than individual hauls by small t
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
how do minimum unit costs change with changes in fixed cost?
What mass (in grams) of O2 gas is present in a 36.0 L container at 673.0 K at 23.8 atm O2 pressure if the gas is ideal?
the existance of a labor marketcharacterised by perfect competition is a fallacy.discuss
periodic table groups and acid and basic radical
Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
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