Chat with AI
Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 19
Gross Domestic Product
Use the figure in Problem to work Problem.
In 2010, flow D was $2 trillion, flow E was -$1 trillion, flow A was $10 trillion, and flow C was $4 trillion. Calculate consumption expenditure.
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 2010, flow D was $2 trillion, flow E was -$1 trillion, flow A was $10 trillion, and flow C was $4 trillion. Calculate consumption expenditure.
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 2010, in an eco...
Macroeconomics 11th Edition by Michael Parkin
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
