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How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
What are the restrictions of unbalanced growth? The restrictions of unbalanced growth: • Frequently governments go for high status, capital-intensive and high tech projects
Define the aggregate price level in the macroeconomics. Aggregate Price Level: A nominal measure is a measure which has not been adjusted for modifications into prices
Is the impact of globalisation a problem? Globalisation consider as to the increasing integration of national economies into terms of financial flows, trade, concepts, informa
function of economics
Assume Mr. Robinson deposits pounds 600 in currency at a bank. Later that day Ms. Volker borrows pounds 1200 from the similar bank. The money supply will have enhanced by pounds 60
An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-
constraints
explain total productivity
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