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State with reasons whether you agree or disagree with the following statements:Macro economics is also known as income and employment theory. |
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Answer» Yes, I agree with this statement. Theory of Income and Employment : It ? explains which factors determine the level of National Income and employment and what causes fluctuations in the level of income, output and employment. To understand how the level of employment is determined, we have to study the consumption function. It includes theory of business cycles. |
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