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Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, and comment on the main omissions of the model.
Ask quedoes privatisation decentralise economic power stion #Minimum 100 words accepted#
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(b) Assess the application of Kaldor’s compensation principle in resolving Pareto non-comparability and explain how the principle differs from the Hick''s compensation principle
How burden of public debt is transferred to future generations through reduced capital formation?
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