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What's meant by economies of scale, and what's the importance of this concept to economic growth? Define and explain each of the following: frictional unemployment,

  1. What's meant by economies of scale, and what's the importance of this concept to economic growth?
  2. Define and explain each of the following: frictional unemployment, structural unemployment, and cyclical unemployment.
  3. What's the multiplier effect, and how does it affect the GDP?

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