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Discuss the circular flow of income in four sector economy.
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- Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.How might you measure a green GDP?Using a well labelled diagram, discuss circular flow of income in a two sector economy
- I cash out my stock to cash. How does this effect the gdpwhat do you mean by CIRCULAR FLOW OF GOODS AND INCOME AMONG PRODUCERS AND HOUSEHOLDSwhat is the difference between Gross Domestic Product and Gross National Product? Would the difference be large or small for developed country? Defend your stand and give examples