Answered: t is often said the less developed…

t is often said the less developed countries are characterized by a "dual economy." What do these people mean by a "dual economy?"

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 1TY

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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t is often said the less developed countries are
characterized by a "dual economy." What do
these people mean by a "dual economy?"

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