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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.
What are the basic analytical frameworks of modern economics? The fundamental analytical framework of modern economics: The fundamental analytical framework for an econom
Explain three major barriers to development experienced by developing countries. Well, the scope of possible answers here is, em, wide, to say the least. The issue is not to si
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what is outputgap?
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