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The _______________ illustrates the notion of opportunity cost. If an economy is fully utilizing its resources, it can produce more of one product only if it produces less of another product.
A) Marginal principle
B) Variable analysis
C) Production possibilities curve
D) Principle of diminishing returns
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NATIONAL INCOME STATISTICS
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what is the use of national income statistics as an indicator for a country''s standard of living?
What do you mean by Gross Domestic Product? Gross Domestic Product (GDP): It measures the value of economic activity which is output produced, into the geographical bound
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