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What are the advantages of using analogies as economic models?
Rate Of Investment
The percentage of return achieved on an investment over a given period of time.
Technological Change
Innovations in technology leading to the creation of new products, improvement in production processes, or increased efficiency in services or operations.
Standard Of Living
The degree of wealth, comfort, material goods, and necessities available to a person or community.
Output Per Worker
measures the average production or services provided by each worker, often used as a productivity indicator.
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