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Why is the growth rate and significant for development?
The rate of economic development is the percentage increase within real GDP over twelve months.
• The higher rate of growth the faster poverty can be decreased and human economic well-being enhanced.
• A one percent growth rate implies standards of living doubles every 72 years; 2% as 72/2 = 38, etc
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If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?
What do you believe are the consequences of a rating downgrade?
QUESTION a) Differentiate between price, income and cross elasticity's of demand. b) How can the concept of price elasticity be useful to the owner of a supermarket who want
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