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Is India fully developed country?
India is classified as a developing country with its GDP amounting to 2.6 lakh crores USD in 2017 according to World Bank estimates. According to IMF, on ...
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What are three essential elements of market economies?
The essential elements of market economies is private property rights, limited government involvement, voluntary exchange, profit, competition, specializa...
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How did the government control public opinion in ww1?
In the United States during the First World War, the government took some pretty severe measures to control the domestic scene. First, they took proactive...
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Do you raise interest rates during inflation?
There is a general tendency for interest rates and the rate of inflation to have an inverse relationship. In general, when interest rates are low, the eco...
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How many years of college does it take to be a judge?
Aspiring judges typically need a law degree. Besides, they also need to pass a competitive exam from the U.S. Office of Personnel Management. A law degree...
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When the government has a budget surplus the surplus?
Terms in this set (35) its total revenues are less than its total expenditures. The government has a budget surplus if: its total revenues are greater tha...
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What is the European Unions main purpose?
Goals. The goals of the European Union are: promote peace, its values and the well-being of its citizens. offer freedom, security and justice without inte...
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How does technology help economic development?
In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows f...
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How much does a cup of coffee cost?
Depending on where you live and how you prefer to take your hot caffeine water, if you’re buying coffee, you’re spending between $1 and $5 per cup. Meanwh...
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How did Adam Smith effect the economy?
Smith is also known for creating the concept of gross domestic product (GDP) and for his theory of compensating wage differentials. 3 Smith’s most notabl...
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