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How do economists group countries at various stages of development?
There are three major forms of classifications:
• IMF: Developing and industrial, transitional economies;
• World Bank: A country is classed like being underdeveloped onto the basis of its low and real per capita income,
• UN: based onto composite indices as like Human Development Index (HDI)
Does the work of the International Monetary Fund and World Bank overlap? Less developed countries turn to the: • International Monetary Fund to resolve debt repayment, exch
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Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
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Importance of production.
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