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ECS3709 Assignment 1 COMPLETE ANSWERS) Semester 2 2024 - DUE 16 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. Ensure your success with us.. $2.60
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ECS3709
Assignment 1
Semester 2
2024 - DUE
16 August
2024
[Type the document subtitle]
, [Pick the date]
[Type the company name]
tabbymwesh59@gmail.com
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Applied Macroeconometrics
ECS3709 Assignment 1 COMPLETE ANSWERS) Semester 2 2024 - DUE 16
August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
Ensure your success with us..
Part 1: Standard of Living (Total: 50 Marks) 1. Provide a comprehensive
definition of the standard of living. Discuss how it differs from related concepts
such as quality of life and economic prosperity (5 marks). 2. Explain any four
of the various methods including other relevant indicators used to measure
the standard of living (5 marks). 3. Discuss the advantages and limitations of
each measurement or indicator referred to in Question 2 (5 marks). 4. Identify
and critically evaluate the flaws and limitations inherent in the common
methods of measuring the standard of living (5 marks). 5. Use real life
examples to explain how factors such as income inequality, environmental
impact, and cultural differences can affect differences in standard of living
among countries (10 marks). 6. Discuss how income inequality, environmental
impact, and cultural differences interact and influence each other (5 marks). 7.
Provide a snapshot of the standard of living in at least three different countries
based in Sub-Saharan Africa, using current data and statistics. Indicate the
data source(s) for the countries you have chosen. Thereafter, compare and
contrast the standard of living in these countries, considering both quantitative
and qualitative measures (10 marks). 8. Discuss any significant trends or
changes in the standard of living in these countries over the past five years
starting from 2019 (5 marks). Part 2: Savings, Investment, Capital
Accumulation, and Economic Growth (Total: 50 Marks) 1. Discuss how
savings contribute to economic growth. 5 marks 2. Explain the mechanisms
through which savings are transformed into investments. 5 marks 3. Define
capital accumulation and explain its importance for economic growth. 4.
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