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How can an economic development be measured?
The UN has developed an extensively accepted set of indices to measure development in opposition to a mix of composite (element or compound) indicators:
• Human Development Index (HDI): It measures a country is average achievements into three fundamental dimensions of human development: educational attainment, life expectancy and adjusted real income (PPP$ per person).
• Human Poverty Index (HPI): It measures deprivation into fundamental human development by using % of people expected to die before age forty, percent of illiterate adult %, of people without access to health services as well as safe water and the percent of underweight children in five like indicators.
• Development diamonds demonstrate four key indicators into a country compared along with its income-group average that is access to safe water, gross primary enrolment, GNP per capita and average life expectancy for 2015.
The _______________ illustrates the notion of opportunity cost. If an economy is fully utilizing its resources, it can produce more of one product only if it produces less of anoth
what is meant by PPF?
How can we determine fixed exchange rate If a nation has a fixed exchange rate (say against a specific currency), the government or central bank may change this fixed exchange
what would be effect of fiscal and monetry policy on price and output level if meges are flexible and rigied?
Exchange Rate Management: Following two stage devaluation of the Indian rupee in quick succession in July 1991, the government introduced Liberalized Exchange Rate System
The opportunity costs associated with the use of resources owned by a firm are: a. externalities b. implicit costs c. explicit costs d. sunk costs
SUppose nominal GDP increases from 5.8 trillion to 6 trillion. The GDP deflator rose over that same year by 3.9 percent. By what percent does the real output increase?
In general, who will benefit as the result of a tariff? Domestic Producers Domestic Consumers The domestic government a. I only b. II only c. both I and III d.
What are the three methods that societies have used to allocate their scarce resources? Give an example of each method. Give an example of a good that uses all three methods at onc
What was the classical models
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