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The study of the overall aspects and workings of a national economy is like as income, output, and the interrelationship between diverse economic sectors. It is the study of all aspects of the economy. It is dissimilar from microeconomics, which studies how individual entities (such as people, families, or even corporations) fit in the economy.
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As people went from barter societies to more advanced economies, money had to be invented. Several things successively served as money in the course of economic evolution. Arrowhea
State the term- - GDP is a flow Lastly, note that GDP is a flow variable and not a stock variable. By a flow variable we mean a variable which is measured in something per uni
Robert's New Way Vacuum Cleaner Company is a newly started small business that produces vacuum cleaners and belongs to a monopolistically competitive market. Its demand curve for t
Q. Define the Prices and price level? Prices are of great significance in macroeconomics as undeniably they are in microeconomics. Though in microeconomics we are more interest
Suppose that between January 2011 and January 2012 the total number of people employed and the unemployment rate both fell. Briefly explain how this is possible. [2 marks]
what is phillips curve
I used to think that economic growth ( more production) was only possible / able to occur because banks lent out more than they had (fractional reserve credit banking). Apparently
Overnight target rates and inflation One of the major targets of every central bank is a low and stable inflation. Its main control variable is the overnight interest rate tar
complexity theory elements
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