Abstract
In a typical economy a large number of economic transactions occur. National income accounting is an attempt to classify these transactions in a way that is economically meaningful. In simplest terms, an economy can be thought of as a set of flows. Taking, for example, an economy which has no external trade and no government sector, the major flows can be depicted as in Fig. 8.1.
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Sources and References
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© 1971 P. N. and G. C. Dean
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Dean, P.N., Dean, G.C. (1971). National Income and Output. In: Principles of Economics. Case Studies in Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15438-8_8
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DOI: https://doi.org/10.1007/978-1-349-15438-8_8
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