EC207 Final: EC207 final review
Document Summary
Europe, and the former soviet union that are presently characterized by low levels of living and other development deficits. It is the short run, narrower concept: growth is only change, and development is the structural change, economic development is a long run and broader concept with increase in per capita gdp in only one dimension. Kevin bialczak ec207 final exam: income per capita = total gross national income of a country divided by population, gni = the total domestic and foreign output claimed by residents of a country. The new view of economic development: with economic growth targets reached but with the levels of living of the masses remaining unchanged a new view developed. Economic development was redefined: the reduction or elimination of poverty, inequality, and. Stuvia. com - the unemployment within the context of a growing economy. > redistribution form growth became the new slogan: introduces multidimensional approach to development: not only income, but also health and education.
