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What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)?
The simplifying assumptions are:
1) The household and institutions sector having only households.
2) Only the business sector invests; the household and institutions sector and the government sectors are supposed to only consume
3) Only the business sector produces
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If I submit an economics problem(Home work), How soon it will be answered?
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What is the theory of absolute and comparative advantage?
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economic problems are faced by all types of economies but they are dealt with differently in different types of economies.discuss
formula of range
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