Answer on Macroeconomics Question for tiffany
- it is the money value of the flow of output of goods and services produced within an economy over a period of time;
- it provides various purposes regarding economy, production, trade, consumption, policy formulation, etc;
- it shows speed of the economic growth in relation to previous years;
- the composition and structure of the national income shows various sectors and the periodical variations in them;
- it shows projection about the future development trend of the economy;
- it helps business firms in forecasting future demand for their products;
- it makes international comparison of people’s living standards.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!