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Economic Indicators (National income (National income is the total value…
Economic Indicators
National income
National income is the total value of all new goods and services produced within a country in a year
Gross Domestic Product measures the total value of the goods and services produced within a country in one yearn This includes goods and services produced by indigenous and foreign owned businesses
Gross National Product is the total value of the goods and services produced by a country in one year
National debt
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Taxes may increase, government expenditure may decrease, taxes may increase, reduced consumer demand
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Economic growth
Economic growth occurs when there is an increase in the amount of goods and services produced in an economy from one year to the next
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