Differentiate economic growth and economic development, Macroeconomics

Differentiate economic growth and economic development.

Economic growth is a raise into real GDP. GDP is only one dimension of development and therefore is a narrow measure of economic welfare.

Economic development is extensive and to do along with key aspects of human well-being. Generally economic development needs:

• Sustainable economic growth,

• A reduction of poverty, inequality and unemployment

• Enhancements in life expectancy, educational achievement, individual self esteem, expanding economic and social choice

• A decrement in fear of starvation and fear of ruin through one bad harvest.

Posted Date: 8/26/2013 7:08:54 AM | Location : United States






Your posts are moderated
Related Questions
Singer suggests that although the right to sell blood does not threaten the formal right to give blood, it is incompatible with "the right to give blood, which cannot be bought, wh

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

Q. Assumptions of the AS-AD model? The most significant change we make going from IS-LM model to AS-AD model is to allow P to be endogenous. As P was constant in IS-LM model, w

The circular flow of income in a simple economy where all income is consumed  The operation of forces in an economy can be expressed in the form of a circular flow of incomes a

Q. Illustrate Biological effects of Ochratoxin? Biological effects: It is associated with the chronic progressive kidney disease in humans known as Balkan endemic nephropathy.

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world, in

Q. Is Consumption depend on GDP in the cross model? Aggregate demand The consumption function Consumption C(Y) depends positively on GDP in the cross

The Stop decay company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per month over the past year. Recently, its closest competitor, Decay fighter, redu

Q. Show the advantage and disadvantage of money? Money has one significant advantage and one disadvantage compared to bonds:  · Advantage: Money is more liquid than bond

construct the supply and demand curves for rental housing, indicating equilibrium rent and quantity. Show the effects on this market( i.e., on supply, demand, equilibrium rent and