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Macroeconomics 10th Edition by Roger Arnold
Edition 10ISBN: 978-1111823016Macroeconomics 10th Edition by Roger Arnold
Edition 10ISBN: 978-1111823016 Exercise 13
According to the circular flow diagram in Exhibit 3, consumption spending flows into U.S. product markets, but import spending does not. But U.S. households buy imported goods in U.S. markets, don't they? Explain.
Explanation
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Verified
GDP is calculated using the formula:
GDP...
Macroeconomics 10th Edition by Roger Arnold
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