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What are the social economic and non economic factors?
Development is also a procedure involving change in some social economic and non economic factors comprising:
• Economic: structural change into sectors for example, through agriculture to manufacturing dominating GDP, improvement infrastructure;
• Social: people move through rural to cities leaving behind a manner of life;
• Cultural: for example, appointment on merit quite than on the origin of traditional loyalty to family or tribe
• Political: laws insisting on property rights and contracts come out
What factors shift out the PPC and what is the opportunity cost of the economy moving out to get back on the PPC? Explain?
assumptions of opportunity cost
If population growth carry on then there will not be sufficient resources around for everyone this will lead to an event such as famine / war, which will decrease the population.
which turning point marks the end of an economic prosperity and the start pf contraction
Describe how exchange rate is expressed in some nation In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rat
Q. State the Marginal Productivity Theory. What are its features and assumption? Marginal Productivity Theory of distribution states that in a capitalist economy the demand for
Do we get paid nominal or real wage?
can u please tell me why lag length criteria is used during estimation of VAR model? what is the purpose of lag length criteria and how it can be interpreted?
how can a central bank diminish inflation
Given the data in the table below, provide an estimate of the arc price elasticity of demand for green and chai tea. Chai tea Price $/lb. 10.4, 10.5 Chai tea Quantity mil lbs. 75
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