How Economists Are Both Scientists And Policymakers And What Process Society Use

  • How economists are both scientists and policymakers and what process society uses to allocate its scarce resources.
  • Using the circular flow model, explain the flow of money and goods in an economy.
  • How does the economy coordinate society’s independent economic actors.
  • A country’s gross domestic product (GDP) and how it is defined and calculated.
  • How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.
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