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Questions
What is meant by withdrawals (leakages)?
What is leakage?
What is meant by leakages in the circular flow of income?
Very Short Answer
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Solution
Withdrawals or leakages refer to the part of income that is not spent on domestic goods and services and thus reduces the circular flow of income in the economy.
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Chapter 18: National Income and Circular Flow of Income - TEST YOURSELF QUESTIONS [Page 362]
