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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.
If the AD excess is $300 billion and the MPC is 0.8 how much fiscal restraint is required? What does the "debt held by the public" mean?
Suppose that an individual stock's return is normally distributed with a mean of 9% and a standard deviation of 4%. What is the probability that the stock's return will be less tha
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#questionAssume that an economy''s GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function
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