What is "shared growth," and what kind of institutions are required for its success?
What will be an ideal response?
The shared growth concept is the World Bank's explanation of how development policy has been shaped in some East Asian economies. Students can develop this explanation and note the institutions that were required, including relations between government and business and how labor fit (or didn't fit) into the picture.
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If there is an improvement in technology that affects only Aggregate Supply and a nation's wealth falls due to sagging stock market, then:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls, and aggregate supply rises. d. Aggregate demand and aggregate supply rise. e. Aggregate demand and aggregate supply fall.
At a corner solution, which of the following is know to be true?
a. The slope of the indifference curve equals the slope of the budget line. b. The slope of the indifference curve is greater than the slope of the budget line. c. The slope of the indifference curve is less than the slope of the budget line. d. The slope of the indifference curve does not equal the slope of the budget line.