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Productivity improvement and poverty reduction
"Connor knows that the two "P" represent the key to sustained economic development for the low-income countries. The two "P" are labour productivity growth and poverty reduction.
Kelly argues that there are important key development strategies which would improve productivity growth and achieve poverty reduction at the same time. Kelly holds that these strategies should be emphasized and given prominence when development policies are created.
Write an in-depth analytical which directs attention to the economic important of these two important issues: productivity improvement and poverty reduction. evaluate two key economic strategies which would work to achieve these joint economic goals. clearly indicate how strategies would achieve economic growth, and at the same time engage in poverty reduction.
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Assume an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. Illustrtae what is the growth rate of its real GDP.
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