In what way is development economics greater in scope than traditional economics?
What will be an ideal response?
Development economics must encompass the study of institutional, political, and social as well as economic mechanisms for modernizing an economy while eliminating absolute poverty and transforming states of mind as well as physical conditions. More details found in the chapter.
You might also like to view...
In the United States, how does the income received by the richest 20 percent of individuals compare with the income received by the other 80 percent?
What will be an ideal response?
Maximizing the benefits of a transaction made under a contract often requires specific investments that lose value if the parties fail to fulfill their commitments
Indicate whether the statement is true or false
The accounting profit earned by a firm is smaller than its economic profit because accountants include the value of various opportunity costs of production when calculating the accounting profit
a. True b. False Indicate whether the statement is true or false
Over the past five years, most countries' debt-to-GDP ratios have risen as a result of the global recession.
Answer the following statement true (T) or false (F)