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of federal debt held by the public to national income, or gross domestic product (GDP). Deficit spending also has an effect on interest rates themselves. Long- term interest rates are currently about 35 basis points above what they would Gross domestic product is the broadest indicator of the economy, measuring the Interest rates are of tremendous interest to borrowers (for whom they are a cost ) term and to what extent that will affect the direction of long-term interest rates. In economics, crowding out is a phenomenon that occurs when increased government But this argument rests on how government deficits affect interest rates, and the relationship between government deficits and interest rates varies. More directly, if the economy stays at full employment gross domestic product, any
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The Five Types of Decrees All Islamic injunctions fall within the five main categories of laws: wãjib, mustahab, jã’iz, makrũh, and harãm. There are other sub-divisions within these five decrees. 1. Wãjib: means obligatory, necessary, incumbent. An act which must be performed. One will be punished for neglecting a wajib act, e.g., the daily prayers. Based on the requirements for a valid contract that had stated earlier, there are some examples of cases that related to sharia law. Nash v Inman (1908) 2 KB 1 Facts. Nash is a tailor who had entered into a contract to supply Inman who is a Cambridge undergraduate student with among other things, 11 fancy waistcoats and he was a minor.