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Q. What do you meant by Deficit?
Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A deficit should be financed with new borrowing, or by running down previous savings.
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Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c
How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp
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The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
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