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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 16
Gross Domestic Product
Use the figure in Problem to work Problem.
In 2009, flow A was $1,000 billion, flow C was $250 billion, flow B was $650 billion, and flow E was $50 billion. Calculate investment.
Problem
Use the following figure, which illustrates the circular flow model, to work Problem.
During 2008, in an economy:
Flow B was $9 trillion.
Flow C was $2 trillion.
Flow D was $3 trillion.
Flow E was -$0.7 trillion.
Name the flows and calculate the value of
a. Aggregate income.
b. GDP.
Use the figure in Problem to work Problem.
In 2009, flow A was $1,000 billion, flow C was $250 billion, flow B was $650 billion, and flow E was $50 billion. Calculate investment.
Problem
Use the following figure, which illustrates the circular flow model, to work Problem.
During 2008, in an economy:
Flow B was $9 trillion.
Flow C was $2 trillion.
Flow D was $3 trillion.
Flow E was -$0.7 trillion.
Name the flows and calculate the value of
a. Aggregate income.
b. GDP.
Explanation
Verified
Verified
Given facts are:
During 2009, in an eco...
Macroeconomics 11th Edition by Michael Parkin
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