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Is economic development is based on goverment
Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchises to nephews of dictator; making sure that members of your ethnic group are in key places to extort bribes; or taking foreign exchange which would have been spent importing productive machinery and equipment and using it in place of buy more modern weapons for the army--these can seem more attractive options. In absence of political democracy checks on a government that doesn't seek economic development are few.
Furthermore checks on government that do exist may not be helpful. In a non-democracy--or a shaky semi-democracy--there are two probable sources of pressure on government: riots in the capital and coups by the soldiers. Even a government which seeks only the best for its people in terms of economic growth would have to deal with these sources of pressure and will have to avoid coups by soldiers and riots in capital.
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Q=8000-800P
having utility function U(x,y)= x1/2=y1/2, determine the hicksian demand function, expenditure function and indirect utility function.
"In U.S., there is a culture of greeting people of the same sex. It's not common that people give attention to the people of the opposite sex. However, in the middle class, it's a
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
What determines aggregate demand?
An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
according to Tobin 1993,examples of Keynesian unemployment includes situation where
Commodities that are viewed as luxuries typically have price elastic demand, and commodities that are requirements have price inelastic demand. There is easily no substitute for a
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
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