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The following is the information from the national income accounts for a hypothetical country:
GDP Rs. 6000.00
Gross Investment Rs. 800.00
Net Investment Rs. 200.00
Consumption Rs. 4000.00
Govt. purchases of goods & services Rs. 1100.00
Govt. Budget Surplus Rs. 30.00
What is a) NDP
b) Net exports
c) Govt. taxes minus transfers
d) Disposable personal income
e) Personal Saving.
Why is private property, and theand the protection of property rights , so critical to the success of the market system ? How do property rights encourage cooperation?
Whenever real GDP declines, nominal GDP must also decline
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WHAT IT MEAN
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