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How did foreign debt arise?
Evaluation: Borrowing shows an injection of new resources in the domestic economy and also an opportunity for development.
• When borrowed resources are used to raise productive capacity, in that case the loan and interest repayments can be met through economic growth.
• When the loan is used to finance current account deficits in that case there is no net investment as well as future economic growth. Debt is a burden.
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What are the limits of national income (NY) statistics in measuring development within a country? National income statistics simply show changes in GDP (Gross Domestic Product)
what are the types of technical economies?
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What is the function of the International Monetary Fund, in the promotion of development? The International Monetary Fund (IMF) is the central institution of the international
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
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