Picture the production possibilities curve shifting out, year after year, but the shifts are not necessarily the same. This picture is at the heart of the _______ explanation of the twists, turns, and spurts of economic growth
a. market theorists
b. housing cycle
c. innovations cycle theorists
d. real business cycle theorists
e. internal cycle theorists
D
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In a market for apples, a consumer purchases 30 pounds when the price of apples is $1 per pound and the consumer's income is $5,000 per month
When the price of apples increases to $2 per pound, without any change in the consumer's income, he decides to purchase only 15 pounds of apples. Suppose, after a given period of time, the consumer's income falls to $3,000 per month. His consumption of apples also decreases to 10 pounds. Using a graph, illustrate the difference between change in quantity demanded and the change in demand for apples.
According to the HRV growth diagnostic framework why is there no "one size fits all" development policy?
What will be an ideal response?