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First, explain the concepts of income, wealth and money and show how each is related to the other. Next, explain the concept of the monetary base and indicate its economic signific
What is the rational for the optimal use of a variable input?
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What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances
Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That
what are the major socio economic problems of India which hamper the growth and development
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
What is the failure effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI failure into hindering development: • TNCs are accus
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