Essay. Economic growth is said to be a necessary but not a sufficient condition towards development. Discuss the reason behind this argument. Do you agree or disagree? Why or why not?

Answer the following in essay form:   1. What is the perspective and methodology of economic development? 2. What is the difference between economic growth from economic development? 3. What are the various factors affecting both economic growth and development? 4. What are the characteristics common among developing countries? 5. What are the various issues related to the measurements of economic growth and development?

According to 2019 data, Japan will continue to be the most aged country in the world until 2050. Japan's workforce is estimated to drop by 13 million by 2040. How will the economy be impacted? a. The impacts on labor productivity will exceed the impacts on economic growth. b. The impacts on economic growth will exceed the impacts on labor productivity. c. The impacts on economic growth and labor productivity will be equal/comparable. d. Neither labor productivity nor economic growth will be impacted.

Describe the relationship between economic freedom and economic growth.