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State the meaning of 'normal resident' of a country. - Economics

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Question

State the meaning of 'normal resident' of a country.

Short Note

Solution

A normal resident of a nation is defined as:

  1. Someone who has lived in a country for more than a year. He might or might not be a citizen of the country.
  2. His economic interests should be located there, or his economic activities (production, consumption, and investment) should be located there.
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Macroeconomic Identities
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2022-2023 (March) Outside Delhi Set 1
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