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Why does economic development engage structural change?
The process of development needs structural change. Usually economies develop by moving resources through agricultural and mining to manufacturing and ultimately in the tertiary as services sector.
For economists as Lewis, economic growth needs structural change into the economy for example, a movement of workers by low value added agricultural sector to higher value added to service and manufacturing sectors.
A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a
QUESTION (a) Analyse the activist and non-activist policy makers' choice between implementing a policy rule or a discretionary monetary policy. (b) Explain why the policy ru
How is Micro or Microfinance credit assists in financial markets? Micro or Microfinance credit assists: • Grow businesses and raise the income of the poor • Extra income
It commonly refers to the combination of commercial banking and investment banking. It is a supermarket for both wholesaler n retailer financial services as it offers a huge range
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
A critically important criterion that must be considered in evaluating environmental policies is whether they provide strong incentives for people to find new ways to improve ambie
1. (classical monopoly pricing) A monopolist faces a demand curve q (p) = 100 p: (a) If its cost function is C (q) = 2q; what is the optimal level of price and quantity? (b
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
Assignment on discounting principle
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