·         How economists are both scientists and policymakers and what procedure society offers to clues its scarce resources.

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·         using the circular circulation model, describe the flow of money and goods in an economy.

·         exactly how does the economic climate coordinate society's independent economic actors.

·         A country's gross domestic product (GDP) and how it is defined and calculated.

·         exactly how the consumer price index (CPI) is constructed and also why the is an imperfect measurement of the price of living.



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