What are the various flows of incomes around the economy

Reference no: EM133713101

Problem

What is meant by the business cycle? Who are the key groups of purchasers whose demands determine the total level of spending on a country's goods and services? What are the various flows of incomes around the economy? What causes these flows to expand or contract? How do we measure national output? What factors influence the level of spending by different sectors of the economy? What is the effect on national income of an increase in spending?

Reference no: EM133713101

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