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- explain how economic growth is measured and with the aid of a diagram, discuss how a PPF may be used to illustrate the economic growth of a countryDraw a production possibilities frontier for a country that produces two goods: capital goods and consumption goods. Show a point of production that will allow a country to achieve the maximum amount of future growth while still producing a small amount of consumption goods.what are 2 main factors of economic growth according to the PPF
- Do you believe the global village concept has been realized? If you do, why? If you don’t, given the nature of developments in the world today, do you have an idea of when we might see the fruition of the global village concept?What is economic development? Explain its nature and importance.How would the different areas of the world react to the idea of "re-development"?
- What are our nations major macroeconomic goals? Are they in conflict with each other ?Construct a production possibilities curve for a hypothetical country. Put public capital goods per year on the vertical axis and consumer goods per year on the horizontal axisApply the IPAT model to the example of China provided in the chapter. How do population, affluence, technology, and ecological sensitivity affect China’s environment? Now consider your own country or your own state. How do population, affluence, technology, and ecological sensitivity affect your environment? How can we minimize the environmental impacts of growth in the human population?