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Uses of national income statistics:
- It helps to organize economic data and activities.- It helps to classify economic activities into various segments or sectors.- It helps to keep track of total production within the macro economy.- It helps to determine the economic performance of a country.- It helps in policy formulation and implementation etc.
What are the advantages of trade surplus
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
what are the main properties and assumptions of indifference curve
Assume that milk operates in a perfectly competitive market, use a well labeled demand and supply model to explain how market equilibrium price of milk is being determined.
Outline the possible negative effects of import-substitution policies. Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing hi
How economic theory explain optimum pattern of consumption for an individual consumer
Purchasing power parity: When PPP holds, the domestic currency has the same purchasing power at home and in any other country. PPP also implies that a foreign currency will de
I need help with tutoring session for an economic coursework
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements
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