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Determine the industrial core of world economy
The industrial core of world economy saw its level of material productivity and standards of living explode in the 19th and 20th centuries. Elsewhere the growth of productivity levels and standards of living and spread of industrial technologies was slower. As industrialized economies grew whereas industrial technologies spread slowly elsewhere, world became a more and more unequal place. As development economist Lant Pritchett puts it that dominant feature of world economic history is "divergence, big-time." In terms of productivity levels and relative incomes, world today is more unequal and more divergent than ever before.
Clearly explain the distinction between supply, demand and equilibrium price.
Sources of Economic growth: Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of
primary reference electrode,she
substitution and income effect on inferior good
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
In November 2010, every Mzumbe University student had an income of 150000/= per month,facing the price of meal (X) 1000/= and average price of other goods (Y) 1000/=.The initial ut
Question 1: i) Use a simple human capital model to explain the rationale for undertaking higher education. ii) Why do some people vary significantly in the amounts of human
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes.
Government Budget Deficits Governments have been traditionally spending more what they could earn by way of taxes and sale of economic goods and services produced by them. The
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