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Macroeconomics (uses of national income (limitations (does not take into…
Macroeconomics
uses of national income
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rate of economic growth
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allows governments to monitor progress of society and take appropriate actions to promote economic growth
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national income
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national vs domestic
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national is income of residents of country, regardless of where they are
indicators
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GNI
total money value of all final goods and services produced by factors owned by residents of the country
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