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Exports and imports of goods BOP correct; tariff barrier makes imports costlier restricts trade.
Ref: NCERT Economics Class XII Chapter 6 Balance of Payments explains BOP current capital account tariff quota exchange rate IMF concepts.
Domestic market activities income determination correct; AD equals AS, multiplier MPS concept.
Ref: NCERT Economics Class XII Chapter 4 Determination of Income explains aggregate demand supply equilibrium multiplier investment concepts clearly.
the difference between poverty line and correct per microeconomics basics; central problems scarcity choice opportunity cost.
Ref: NCERT Economics Class XI Chapter 1 Introduction to Microeconomics explains central problems scarcity choice PPC opportunity cost concepts clearly.
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