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Extract B (Lines 2-3) States That ‘India’s Economic Success Would Help to Bring Some Relief to the Uk Economy and Speed the Recovery Process Through Increased Exports’. Essay

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Below is an essay on "Extract B (Lines 2-3) States That ‘India’s Economic Success Would Help to Bring Some Relief to the Uk Economy and Speed the Recovery Process Through Increased Exports’." from Anti Essays, your source for research papers, essays, and term paper examples.

Economic growth is measured as the year on year increase in real GDP and can be defined as an increase in the productive potential of the economy. There are also two types of economic growth, short and long run. Short run (current/actual) economic growth can happen as a result of an increase in aggregate demand, where AD = C + I + G + (X – M). An increase in AD will bring spare capacity into use as derived demand for factors of production increases. The output gap closes and the economy moves closer to it productive potential. The more relevant to the question is long run which requires an increase in the productive potential of the economy. This could be the result of an increase in the quantity and quality of land, labour, capital and enterprise available and come from the supply side of the economy, and can be shown in and outward shift of a PPF.
India and the UK have different types of markets which they rely on to encourage growth, where as India is a developing county and growth is predominantly fuelled by manual labour and industry based work companies like Tata and Corus Steel who appear to be one of the main driving forces in the increase in exports that are behind India’s increasing economic growth figure. The UK are much of a contrast to India with the main driving force in the economy been services and other highly skilled jobs like banking and many financial based careers unlike that of India’s Manual labourers.
The extract seems to constantly remind us how the growth of India’s economy may be of benefit to the UK for example in the first 3 lines it tells us how the hope of a growth in India’s economy may increase exports and help aid recovery which instantly answers the question of how important India’s growth is to the UK economy. Also goes on the mention how India’s “quarterly sector growth is impressive” something that could prove very positive for the UK with multiple possible positive repercussions which if maintained may continue to aid the...

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MLA Citation

"Extract B (Lines 2-3) States That ‘India’s Economic Success Would Help to Bring Some Relief to the Uk Economy and Speed the Recovery Process Through Increased Exports’.". Anti Essays. 21 Apr. 2019

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APA Citation

Extract B (Lines 2-3) States That ‘India’s Economic Success Would Help to Bring Some Relief to the Uk Economy and Speed the Recovery Process Through Increased Exports’.. Anti Essays. Retrieved April 21, 2019, from the World Wide Web: https://www.antiessays.com/free-essays/Extract-B-Lines-2-3-States-That-727241.html