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Assignment 1 (version A)
Assignment 1 comprises five written response questions. Your response to each of the five questions should be approximately 150 to 250 words. Prepare your responses for all five questions in one document (Microsoft Word or compatible).
Discuss the following statements:
Response To Economics Discussion Questions
Length: 3 pages (923 Words)
Classical economists define stagnation as that situation in which the total output/output per capita is constant, either it is falling slightly, or it is rising in a sluggish manner (Njobvu and Koopman 3). During stagnation period, unemployment is chronic. Stagnation can exist in some industries or in the whole economy. According to Njobvu and Koopman, when Less Developed Countries are injected with sufficient funds, they can finance major development projects and provide essential public services to the population. The financing can help to boost the declining enterprises, development projects, industries and as well change the vicious circles of poverty that hold and keep many LDCS in a state of static equilibrium.