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DEMOGRAPHIC FEATURES IN DEVELOPMENT:
We have learned in the previous unit that human resources play a significant role in generating aggregate flow of goods and services. The difference in the growth of national income and the per capita income is explained by the growth in population. Hence, in this unit, we will discuss demographic features and indicators of development. Human resources have a two-pronged relationship with economic growth. As a resource, people are available as factors of production to work in combination with other factors of production like land, capital and enterprise. As consumers, human beings make demand on the national product of the economy. The size of population, therefore, is a crucial determinant of economic growth. A large population may not necessarily contribute to economic growth; in fact, a large fast-rising population may find itself in a situation described by economists as 'over-population'. A related question is: Does economic growth alone constitute economic development? The answer is simple 'No'. Then, What is economic development? What are the indicators of economic development? After reviewing the demographic profile of the Indian economy, we, in this unit, will also address the related question of indicators of development.
Derive saving- investment recognize in the context of an open economy. From national income accounting shows that an enhance in taxes (whereas transfer unchanged) must imply a
Q. Investment demand of the AS-AD model? Investment demand. As long as we keep nominal interest rate (and thus real interest rates) constant, there is no reason for demand for
2. Given the following information: Consumers are very optimistic about the future. The price of oil has just doubled. The money supply is growing at a 6% rate. The government has
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
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
Q. What do you mean by Gross domestic product? Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP): Gross Domestic Product (
Concept of Preference, Utility Function: Concept of Preference, Utility Function and Indifference Curve Consumer preference ('R') specified by the above axioms can be represe
multiplier static and dynamic
"The price of Brent crude oil has hit $111 a barrel and US crude also rose in price, as worries persist about the unrest in Libya". (BBC News, 2011) This quote, from the BBC news w
provide data and analysis for the real GDP (as total and per capita) and its growth rate then draw a graph and identify the periods of the Malaysia’s business cycle 2007 -2011
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