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What are the traditional, modern sectors and rural-urban migration?
Rural-urban migration:
Rural-urban migration is the movement of labour through the countryside to cities
The Traditional sector consider as to established age-old procedures for example, agriculture methods and usual land ownership.
The Modern sector consider as to a system based upon specialisation, commuting and use of modern technologies.
If an economy is experiencing reduction, will the nominal interest rate be higher or lower than the real interest rate? What is the equation that relates nominal rates, inflation a
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