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Why and how are economists attempting to create more accurate measurements of development?
The why part is simply because of the complexities built-in to the concept of development - it is a very broad (rather subjective) and non-quantitative concept. In order to enhance the measurability, economists increasingly look at (quantifiable) variables which are related to, i.e. show causality with, development. Often these measurements take the form of composite indices.
Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt
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John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
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Q. What is Free Trade Agreements? Free Trade Agreements:It is an agreement between two or more countriesthat eliminates tariffs on trade between the countries, reduces non-tari
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