-It refers to a transition from a system where prices are determined by the government to one where prices are determined by free forces of demand and supply.
Kalis answered the question on March 23, 2018 at 13:24
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Y = C + I + G
C = a + b(Y – T)
T = d + tY
I = IO
G = GO
Where a > O; O < b < 1
d > O; O < t < 1
T = Taxes
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G = Government Expenditure
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(b) Briefly explain how national income is measured.
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