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What are the characteristics of growth in developed countries?
Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below:
• Gross National Product growth;
• Population growth;
• Gross National Product per capita growth;
• Productivity growth;
• International trade;
• Structural transformation;
• Social as well as ideological modifications.
Mr. M enters into a contract with Mr. R under which R agrees to build a model railroad for $200. The value of the model railroad to M is $300. Expecting that the model railroad wil
What are state approaches to developing? The government supposes responsibility for economic planning to attain the best possible utilize of scarce resources. An economic plan
what are the two economy of money?
explain law of production
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
how does economic theory contribute to managerial decisions?
what is social cost
If the Government decreases the interest rates on capital goods such as new plant and equipment and building. Investment also include spending on working capital such as stocks of
Question 1: a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'. b) According to you, can the ‘Factor Endowment Theory' be a reasonable e
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