a) What is the main difference between economic growth and economic development?[4 marks] b) Outline the main determinants of economic growth. [6 marks]
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Suppose that the money demand function is (M/P)d=1000-200r where r is the interest rate in percent. The money supply M is 1200 and the price level P is 2. a. Graph the supply and demand for real money balances. b.What ...
Demand function for real money balance is = 5000 — 200r, where r is the interest rate in percent. The money supply is 1800 and the price level is N$125. Given the information above, equilibrium interest rate in the money ...
Let us assume a closed economy with government expenditure (Go), household expenditure (Co) are autonomous and investment as a function of interest rate. For simplicity, let us say interest rate increases from R1, to R2. a) Use a well labelled graph ...