Solved: Circular flow diagram and government-business, Macroeconomics

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Circular flow diagram and government-business

Please assist with the following:

Question 1. Define the following terms:

Gross Domestic Product (GDP)
Real GDP
Unemployment rate
Inflation rate
Interest rate

Question 2. Explain how the circular flow diagram illustrates the interaction of households, government, and business.

Answer should be approx. 700 to 800 words in length.

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Macroeconomics: Circular flow diagram and government-business

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Macroeconomics: Circular flow diagram and government-business

Reference No:- TGS02091442

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