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How have economists traditionally defined "economic growth," and how is that different from "living standards growth"?
Economists have traditionally explained economic growth in terms of production of goods and services, whereas the concept of "living standards growth" encompasses the improvement in the quality of diet and housing, transportation and communication, education, health care, , working conditions, entertainment, and even political freedom and social inclusion.
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
what is outputgap?
The issue I like to discuss is the ‘US Mortgage Delinquency'. The Mortgage Delinquency may be defined in simple term as the ‘repeated failure to make loan repayment on time'. The d
what is mrs
compare traditional modern and engineering cost curves
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
Choosing Inputs How to minimize cost for the given level of output. We can do so by combining Isocosts with Isoquants Producing a
what is profit maximization..
using demand and supply curves explain how shortage and surplus are created
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