Macroeconomics Class 12th Economics NCERT Summary BY RAHUL SHAKYA unacademy Macroeconomics
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Common Measuring Rod In order to get the quantitative assessment- a measure of the total final goods and services produced in the economy we need a common measuring rod Money > Common Measuring Rod Since each of the commodities is produced for sale, the sum total of the monetary value of these diverse commodities gives us a measure of final output. .Why final goods only ?? To prevent double counting.
Difference between Stock Variables & Flow Variables> Flow Stock Flows are defined over a period of time Stock are defined at a particular point of Dynamic Time is more important time Static Time is less important Change in stock over a period of time is called Flow
Concept of Gross Investment & Net Investment . 5kGross Investment Machine, Tool, Buildings 2kNet investment . Net Investment Gross Investment - Depreciation
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