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State the term- - GDP is a flow
Lastly, note that GDP is a flow variable and not a stock variable. By a flow variable we mean a variable which is measured in something per unit of time. If you fill a bath tub you may fill it at 40 liters per minute- a flow - whereas the tub itself may comprise 200 liters - a stock. In the similar way, income is flow (you may make 9 euro per hour) whereas amount of money you have in your bank account is a stock (you would never claim that you have 2400 euro "per month" in your account - you have 2400 euro period).
Discuss what policy changes he might be likely to propose with respect the issue that you identified as one about which he might be concerned.
ABSOLUTE ADVANTAGE
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discuss four weaknesses of using national income statistics in comparing living standards between two countries
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