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Problem:
i) Differentiate between economic development and economic growth.
ii) Describe carefully how, using the expenditure approach, national income is calculated.
iii) Critically analyse the different measures of economic development.
iv) Describe using diagrams why a 10% increase in investment leads to a higher percentage increase in National Income?
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conditions of pareto optimality
DISCUSS THE COMPENSATION PRINCIPLE OF KALDOR -HICKS
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graphical illustration describing the influence of an increase in immigrants on the market supply of labour
expansionary fiscal policy occurs?
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