The catch up effect means that countries that start off rich tend to grow more rapidly than countries that start off poor. Select one: a. Fales. b. True.

Q: Suppose there are two countries, India and Bangladesh. In country India, Real GDP grows by 3 percent…

A: Economic Growth is the increase in the output or production of goods and services in the country…

Q: Economic problems arise because

A: To find : Why do economic problems arises.

Q: According the Harrod-Domar and Solow models, what should countries do if they want to grow?

A:

Q: Goods and Services) Explain why each of the following would not be considered “free” for the economy…

A: A goods is an unmistakable thing that buyers want or own. A service is definitely not a tangible or…

Q: why being poor is expensive? expand

A: The economics as an area of study deals with the use of resources in the economy, or society. The…

Q: Would you expect to find a higher standard of living in the Baltic States or in the border nations?…

A: The baltic states refers to the unofficial geographical term which is used to describe group of…

Q: Education seems to be important for human capital deepening and thus economic growth. As people…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: According to Adam Smith, where does the wealth of a country come from? What does society need in…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: How can an increase in government spending boost economic growth and reduce unemployment in South…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Why might high levels of inequality lead to lower rates of growth and development? Why might it be…

A: A country with high initial inequality has a lower rate of income distribution that is equally…

Q: How does the economy grow up without development? – Explain.

A: Economic and social development is the process by which a nation, region, local community, or…

Q: The branch of economics that looks at the operation of a nation's economy as a whole

A: Economics is a broad subject. Microeconomics and macroeconomics are the two important branches of…

Q: entrepreneurs, freedom, opportunity, and a little bit of money are to economic growth and…

A: The correct answer is given in the second step.

Q: Refute this statement with three reasons “The government should impede the pace of innovation, which…

A: Answer given below,

Q: Discuss the factors that determine whether the standard of living in a country will be high or low.…

A: In economics, the standard of living refers to the basic amenities which are available to the people…

Q: What is the role of education and training in the pursuit of economic prosperity?

A: Education is a strong reform driver, enhancing well-being and livelihoods, leading to social…

Q: Q) The economist of country A is considering the following list of policies. For each of the…

A: Development economics deals with the measures to induce and maintain economic development through…

Q: As explained by the economists, economic development and economic growth are the same. TRUE OR…

A: When comparing one period to the next, economic growth is defined as a rise in the production of…

Q: The ability of an economy to produce greaterlevels of output per time period is calleda. positive…

A: Positive Economics is the one which is based on facts and values.  Normative Economics is the one…

Q: What are the factors that can influence a country’s standard of living?

A: Standard of living indicates the degree of wealth or availability of material goods and services to…

Q: Can economic growth and productivity align with our core values?

A: Economic growth and productivity are very important for the development of an economy. Core values…

Q: Economics Create a flow chart that will show the agrarian situation during the pre-colonial era up…

A: Aside from these industries, Aquino also legislated Executive Proclamation No. 26, Series of 2011,…

Q: According to Charles Wheelan's Naked Economics, which of the below is NOT TRUE for human capital?…

A: According to Charles Wheelan, human capital is refer to the people who would be getting richer then…

Q: Would you expect the relative returns to primary education, on the one hand, and secondary and…

A: In an economy, it can be seen that primary education is mandatory for all people, while higher…

Q: Is economic development a branch of economics? Yes or no? Explain your answer.

A: The process of creation of wealth for the benefit of a society is known as economic development.…

Q: The world is getting richer because

A: When we say that the world is getting richer then we means that per capital income of an economy…

Q: Discuss the basic principles of a Mixed economy. Describe what a Market Economy and Planned Economy…

A: In a planned economy, there exists a national institution that defines or plans the way the economy…

Q: Economists in the Ministry of Finance proposed the following startegies to increase the country's…

A: The Production Possibility frontier will shift outwards with respect to increased resources,…

Q: Today’s business world is dynamic, being characterized by the following economic changes that affect…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Consumers read positive economic news and then expect strong future economic growth

A: In this scenario the consumer spending increases, which helps the economy maintain its boom.

Q: the process of economic development, a family is more likely to_________: Question 28 options:…

A: Economic development involves the investment process by individuals. Children of the family,if…

Q: Discuss the following quote from the article by Jason Hickel: ‘Instead of pushing poor countries to…

A: The development industry claims that through spreading western, neoliberal capitalism across the…

Q: The study of economics is very important because it

A: According to the OECD (Organisation for Economic Co-operation and Development), unemployment is…

Q: How might inequality lead to faster growth or development? How might it lead to slower growth or…

A: The rise in inequality levels leads to transferring of income to higher-saving households being at…

Q: correlation between culture and development

A: Culture is a way of life practised as a daily routine.

Q: Which of the following is the Role of Science and Technology? I. Have the power to better the lives…

A: When talking about the role of science and technology, it can be said that it has a significant…

Q: Poor Economics by Banerjee, Abhijit V. Question: Briefly explain the “institutionalist view” of…

A: There are various economic schools that belong to different ideologies to analyze the economy and to…

Q: Why people are the real products of economic development?

A: Economic development involves the rise in real per capita output and income. Its central point is to…

Q: Larger production of goods would lead to higher production in future

A: To find : Which leads to higher production in future.

Q: If one wants to know how the material well-being of the average person has changed over time in a…

A: GDP per-capita: The GDP per-capita is a measure of a country’s economic output that accounts for its…

Q: n Bel

A: Inequalities in distribution of income and access to basic social services, productive resources and…

Q: Political economists have offered a range of explanations of economic and human development. These…

A: A developed nation, also known as an industrialized country, has a sophisticated and mature economy,…

Q: According to Charles Wheelan's Naked Economics, which of the below is NOT TRUE for human capital?…

A: Naked economics: Written by Charles Wheelan and published by W.W.Nortan & Company the book naked…

Q: Why is "Investment is the key to economic progress"?

A: Changes in investment shift the total interest bend to the right or left by a sum equivalent to the…

Q: Free-market economies have _____ . low levels of growth in their economies little freedom for…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: Give the point of view of Marx and Engels on economic development. Explain the pros and cons.

A: Capitalism refers to a market system in which capital is owned by private producers.

Q: If the future leader of our country will use the ideas and principles of Marxism, how can it…

A: As per Karl Marx version of economics, People depend on basic amenities without which they can never…

Q: he Malthusian population trap tell us that    a. trade routes of people is responsible for…

A: The Malthusian Trap claims that as the world's population grows, crop production will be…