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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.
Define the term - Productivity Productivity is the concept which measures how outputs can be maximised from given inputs. In factories labour productivity is normally calculate
Determine the categories of finished goods Finished goods in the goods market are divided into 4 categories: private consumption going to private sector, public consumption for
In what major way do the Microsoft and Standard Oil cases differ?
a health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40. the price elasticity of demand for memberships at this health clu
What is money wage rate While the money wage rate or nominal wage rate is the hourly wage rate calculated in money that a worker receives for supplying labour, the real wage r
what goals and policies are being discused to address the crowding out effect?
The following is the information from the national income accounts for a hypothetical country: GDP Rs. 6000.00 Gross Investment Rs. 800.00 Net Investment Rs. 200.00 Consumption Rs.
Q. Is Consumption depend on GDP in the cross model? Aggregate demand The consumption function Consumption C(Y) depends positively on GDP in the cross
Another area where monetarists differ from Keynesians is money supply and interest rates. In the Keynesian analysis with less than full employment level equilibrium, the interest r
#If the reserve bank wants to pursue a contractionary monetary policy, the bank should?
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