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Explain about the long-run economic growth.
Long-Run Economic Growth:
Secular or long-run growth is the continued upward trend into aggregate output per person over many decades.
A country can attain a permanent raise in the standard of living of its citizens only by long-run growth. Therefore a central concern of macroeconomics is what finds out by long-run growth.
What are Harrod-Domar restrictions? Harrod-Domar restrictions: • Non economic social, cultural, political and institutional circumstances are unimportant into growth pro
Difference between gross barter and net barter terms
What are the internal constraints on government action less developed countries? Internal Constraints on Government Action LDCs: • Have restricted domestic resources to ac
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
What is poverty? Poverty is a complicated multidimensional model measured by using a range of indicators. It is about disparities into the distribution of power, opportunity a
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Question: Extract of the Speech by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, at the Swiss Banking Global Symposium, Zurich, 16 November 2012
QUESTION (a) Explain clearly what inflation is and elaborate on its main causes. (b) "There is a trade-off between inflation and unemployment" Do you agree with this stateme
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
product asssignment on factor of production
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