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chapter seven measuring domestic output and national income CHAPTER OVERVIEW News headlines frequently report the status of the nation’s economic conditions, but to many citizens the information is confusing or incomprehensible. This chapter acquaints students with the basic language of macroeconomics and national income accounting. …Read more
?Outline the main features of the five-sector circular flow of income model of the Australian economy. Explain how leakages and injections influence the level of economic activity. The five sector circular flow of income model describes the operation of an economy and the linkages between …Read more