2.1 Differentiate between economic expansion and contraction. Providing evidence from appropriate academic sources, identify if South Africa is currently experiencing an expansion or contraction and motivate your answer.

Does global business bring about growth or regression?

In the 1990s, developed countries agreed to double their aid to Africa by 2015. A report by the United Nations conference on Trade and Development noted that sceptics had raised concerns about how much effect the doubling of aid would have on output and incomes in Africa, if the quantity of other inputs such as human capacity and institutions were to remain fixed. It also pointed to the divisions between the sceptics with some suggesting the return would diminish when aid reached only 4% of GDP, while others thought they would diminish only when it had reached 50%. It should be added that even if the returns do begin to diminish, they could still be very important.In 1887, Cecil Rhodes created the De Beers Consolidated mines Company, which controlled about 90% of the total world supply of rough uncut diamonds with its South African mines. Until 2001, De Beers produced about half of the world’s diamonds in its mines and marketed about 80% of the world’s diamonds. Diamond producing…

Demand management policies do not matter for growth in the long run as long as there is productivity growth. Why or why not?

Write in research form about the following? China’s economic transformation since the late 1970s has been a process of neoliberalization, and, as such, it has resulted in growth without development.’ Discuss.

What does productivity growth has to do with economics?

Climate differences affect the economic development of countries.  For example, undeveloped countries live in tropical and sub-tropical zones whereas highly developed nations live in temperate zones.  Give two reasons why differences in climate tend to affect growth in economic development.

Which of the following statements is true? Select one: a.Wealthy countries tend to score highest on the "least corrupt" scale. b.Poor countries are likely to remain poor because when one country's economy grows, it is at the expense of some other country's economy. c.Poor countries are poor because they lack resources. d.The pursuit of economic growth harms children by encouraging child labour industries and discouraging school attendance.   In general, countries which are less corrupt by most international measures Select one: a.experience higher long term growth rates. b.have higher short term growth rates but are no different in the long run. c.have growth rates similar to more corrupt countries. d.are poorer than countries with higher levels of corruption.   As GDP per person rises Select one: a.the number of children per family tends to fall. b.environmental quality falls and continues to fall. c.the incidence of child labour rises. d.the economy shifts towards more labour…

The following has NOT played a key role in the rise of Japan? a. real estate b. Keiretsu c. MITI d. Sogoshosha

Tracking the past millennium, they say, puts the current economic drama into perspective. please identify the inaccurate representation in the following set. A) China alone generated one-third of the world’s gross domestic product in 1820.   B) For most of this span, China and India were the world’s two biggest economies   C) In 1850, India produced the highest percent of all the goods consumed in the world.   D) From 1000 to the mid-1880s, they produced, on average, 70 to 80 percent of world output   E) Before the steam engine and the power loom drove the transfer of economic might from Asia to the West, today’s emerging economies dominated world output.