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Differentiate economic growth and economic development.
Economic growth is a raise into real GDP. GDP is only one dimension of development and therefore is a narrow measure of economic welfare.
Economic development is extensive and to do along with key aspects of human well-being. Generally economic development needs:
• Sustainable economic growth,
• A reduction of poverty, inequality and unemployment
• Enhancements in life expectancy, educational achievement, individual self esteem, expanding economic and social choice
• A decrement in fear of starvation and fear of ruin through one bad harvest.
The following network N has source S and sink T with arc capacities as shown. (a) Use the maximum flow algorithm to find a maximum flow from S to T and draw a diagram
types of production function models
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Debate between New Classical and New Keynesian economics?
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