what are the common features and peculiarities of " State regulation of “internal” and “external” sectors of national economy"
what are the common features and peculiarities of " State regulation of “internal” and “external” sectors of national economy"
STEP 1
The external sector is that portion of a nation economy that interacts with other nations’ economy i.e. in the goods markets the interaction can be seen from import and export sector and in the financial market the interaction can be seen from capital flows. However, the internal economy is that portion of a nation economy that interacts with national citizens i.e. in the goods market interaction can be seen from consumption spending, investment spending, government spending, and exports and in the financial market interaction can be seen from the monetary policy tools used by the central bank.
STEP 2
Common features between the government regulation of “internal” and “external” sector of national economy are:
- Both of them have impact on the real GDP – the internal sector by raising its spending levels can upsurge the level of aggregate demand in the economy that tends to upsurge the level of real GDP. However, the external sector through its export-oriented policy can foster the real GDP and economic growth.
- Net Export is the common factor to stimulate national demand – both the internal and external sector has net exports (e...
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