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How do economists group countries at various stages of development?
There are three major forms of classifications:
• IMF: Developing and industrial, transitional economies;
• World Bank: A country is classed like being underdeveloped onto the basis of its low and real per capita income,
• UN: based onto composite indices as like Human Development Index (HDI)
abnormal supply curve
How does sectoral change enhance development? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour into traditional agricultu
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a) $130,000 b) Project Atlanta has the shorter payback period Atlanta Boston Payback 1 year and 10 months 2 years an
Question: There are currently some 421 Regional Trade Agreements (RTAs) around the world. These RTAs normally provide preferential treatment to member countries, which is again
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
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