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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?
data of past 20 years regarding price, wage, employment, productivity, investment, profit or loss.
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What determines aggregate demand?
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Dynamic model
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