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Why and how are economists attempting to create more accurate measurements of development?
The why part is simply because of the complexities built-in to the concept of development - it is a very broad (rather subjective) and non-quantitative concept. In order to enhance the measurability, economists increasingly look at (quantifiable) variables which are related to, i.e. show causality with, development. Often these measurements take the form of composite indices.
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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Modem theories of trade
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Explain the graph as their is an increase in income
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