Graphically show the economy when at full employment and economy when at less than full employment

What do you understand by Net Factor Income from Abroad (NFIA)?

What is Net Domestic Product at Market Prices (NDPMP)?

What is Gross National Product at Factor Cost (GNPFC)?

With detail explanation discuss the classical theory of income and employment

Broadly differentiate between the deflationary gap and inflationary gap

What are the cause of inflationary gap in the economy and deflationary gap

Broadly what are the effects of Excess demand

What are the measures that the economy will use to correct deficient demand?

The Classical theory of Income and Employment states that full employment is a normal feature of a capitalist economy explain