National Income of Related Aggregates



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Contents

Some Basic Concepts of Macroeconomics


Description: Basic concepts of macroeconomics include GDP, inflation, unemployment, fiscal policy, monetary policy, and economic growth.


Flow & Stock


Description: Circular flow shows income movement in an economy; national income is calculated via production, income, expenditure.


Nominal and Real GDP


Description: Nominal GDP measures output at current prices, while real GDP adjusts for inflation over time.


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