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Explain which of the two strategies is most likely to lead to development.
Empirically, it seems rather evident that export-orientation has been more successful than import-substitution. The major point in putting forth this claim are that export-orientation has led to rapid growth whereas import-substitution has in fact been a dismal failure - resulting in the general abandonment of import-substitution as a main development policy. Though, as there always is in the dismal science, is that various specific policies in export-orientation in fact closely mirror policies executed in import-substitution policies.
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
Why might external economies of scale be of interest to developing countries?
Learning Objective: Reinforce understanding of Power, β , and α . Problem: A packing process is designed to fill steel drums with 400 pounds of a chemical. To determine whe
Q. Define the Labor Market? A significant macroeconomic variable is the total amount of labor which is used in a certain time period. Amount of labor and amount of capital are
What are the Responsibilities of central banks Responsibilities include providing banking services to commercial banks and the government and regulating financial markets and i
illustrate and discuss the implications of variou market structures (competitive and noncompetitive) for price determination
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A company is researching the effectiveness of a new web site design to decrease the time to access a website. Five web site users were randomly selected and their times (in seconds
what is okun''s law ? In economics study, Okun's law also named after Arthur Melvin Okun is an empirically observed relationship relating among unemployment to losses in a specific
Assume that the economy is characterized by the following structural equations: C = 160 + 0.6 (4 - T) I = 150; G = 150; T = 100. a) Determine the equilibrium output level
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