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Sagot :
If you add up all the transactions in an economy, you will arrive at Gross Domestic Product.
If the government increases transfer payments, Aggregate output would remain the same.
The poor do benefit a lot from economic growth more than the rich? as the rich are said to be making slow progress.
Two factors that cause the aggregate demand curve to shift are:
- consumer spending
- investment spending
Two factors that cause the short-run aggregate supply curve to shift are:
- Changes in terms of prices of factors of production.
- Changes in terms of the capital stock.
What is the transactions in an economy about?
If you sum up all the transactions in an economy, a person will arrive at Gross Domestic Product GNP due to the fat that intermediate goods are also part of it.
Note that A change in transfer payments will lead to a shift in the aggregate demand curve as it it will influence consumption.
Have the poor benefited more or less from economic growth than the rich? Why?
Learn more about GNP from
https://brainly.com/question/526578
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