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Describe how budgetary deficits and public debt are related. Where does a firm's marginal cost curve intersect its average total cost curve? Why does it
- Describe how budgetary deficits and public debt are related.
- Where does a firm's marginal cost curve intersect its average total cost curve? Why does it always intersect it there?
- Describe the effect of inflation on both incomes (purchasing power) and savings.
- Describe a limitation or weakness of Nominal GDP as a measure of the performance of the economy.Explain one way we already deal with this limitation or weakness.Name and briefly describe an alternative to GDP as a measure of economic performance.
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