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







Related Discussions:- Differentiate economic growth and economic development, Assignment Help, Ask Question on Differentiate economic growth and economic development, Get Answer, Expert's Help, Differentiate economic growth and economic development Discussions

Write discussion on Differentiate economic growth and economic development
Your posts are moderated
Related Questions
According to Bowen, Leamer, and Sveikauskas, which of the following is true? a. A nation indirectly exports its most abundant factors of production. b. A nation indirectly im

Q. Illustrate neo-classical growth model? The main purpose of another significant growth model, neo-classical growth model, is to explain how it is possible to have a permanent

The financial crisis that hit the United States first and then the world economy starting in fall 2007 meant that the future prospects of many firms looked gloomy at best for some

example on the calculation of IS LM Curve?

link of monetary account with other sectors and its meaning

Calculate the marginal cost and marginal analysis for the following table. Calculate the answers and insert them into the shaded cells. Units Produces Cost per Unit Total Cost Ma

Consider the impact of an increase in thriftiness in the Keynesian-cross analysis. Assume that the marginal propensity to consume is unchanged, but the intercept of the consumption

Tariffs and Non-tariff Barriers A significant aspect of the trade reforms of the 1990s was the reduction in the then prevailing very high import duties (over 300 percent in so

At first, Say's Law may seem 'obvious'. Though, it's not - actually, it's highly controversial. The reason it may seem obvious is that you have perhaps learned from microeconomics

Q. Important points about the classic model? The most important points about the classic model are as following:  Monetary and fiscal policy can't affect the GDP or unem