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Explain the relationship between GNE, GNI and GDP in a closed economy.
Principles of Duty
Fundamental ethical rules or guidelines that dictate what individuals ought to do, often based on moral obligations.
Ethical Philosophy
A branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behavior.
Moral Relativists
Individuals who believe that moral principles are not absolute but vary with social, cultural, or personal circumstances.
Moral Principles
Fundamental beliefs or rules that guide ethical decision-making and behavior, reflecting concepts of right and wrong.
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