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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 19
Given the following information about each economy, either calculate the missing variable or determine that it cannot be calculated.
a. If C = $20.1 billion, I = $3.5 billion, G = $5.2 billion, and NX = - $1 billion, what is total income?
b. If total income is $1 trillion, G 5 $0.3 trillion, and C 5 $0.5 trillion, what is I?
c. If total expenditure is $675 billion, C = $433 billion, I = 105 billion, and G = $75 billion, what is NX? How much are exports? How much are imports?
a. If C = $20.1 billion, I = $3.5 billion, G = $5.2 billion, and NX = - $1 billion, what is total income?
b. If total income is $1 trillion, G 5 $0.3 trillion, and C 5 $0.5 trillion, what is I?
c. If total expenditure is $675 billion, C = $433 billion, I = 105 billion, and G = $75 billion, what is NX? How much are exports? How much are imports?
Explanation
Verified
Verified
Gross domestic product (GDP):
GDP refer...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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