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What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
What are the assumptions of Lewis? LDCs (Less Developed Countries) have two (dual) economies as: • Rural traditional economic and social practices, which overpopulated, s
What is mean by stabilization policy? Taming the Business Cycle: To decrease the severity of recessions policy efforts undertaken are termed as stabilization policy. a
definition, advantages and disadvantages of privatisation?
How is Gross Domestic Product capturing the economic dimension of human well-being? GDP (Gross Domestic Product) only captures the economic dimension of human well-being. All c
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
Define the balance of payments problem in international capital flows. Balance of payments (BoP): It inflows capital as like: • Foreign direct investment (FDI) into machiner
Growth in Private Capital Flows is explained below: There has been a extraordinary growth in private capital flows since the 1990s. For instance, the value of capital flow tran
What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
QUESTION (a) Explain the 3 methods of calculating National Income? (b) Why do all countries in the world calculate their National Income every year, despite all the difficul
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