Government purchases of goods and services = $100 %3D Government Taxes $100 Wages, profit, interest, Consumer Households spending = $650 %3D rent = $750 %3D Factor Markets for goods and services...

Government purchases of<br>goods and services = $100<br>%3D<br>Government<br>Taxes<br>$100<br>Wages, profit,<br>interest,<br>Consumer<br>Households<br>spending = $650<br>%3D<br>rent = $750<br>%3D<br>Factor<br>Markets for goods<br>and services<br>markets<br>Wages, profit,<br>interest,<br>rent = $750<br>Gross<br>domestic<br>product<br>%3D<br>Firms<br>Exports = $20<br>%3D<br>Rest of world<br>Imports $20<br>%3D<br>

Extracted text: Government purchases of goods and services = $100 %3D Government Taxes $100 Wages, profit, interest, Consumer Households spending = $650 %3D rent = $750 %3D Factor Markets for goods and services markets Wages, profit, interest, rent = $750 Gross domestic product %3D Firms Exports = $20 %3D Rest of world Imports $20 %3D

Y At right is a simplified circular-flow diagram for<br>the economy of Micronia. (Note that there is no<br>investment in Micronia.)<br>a. What is the value of GDP in Micronia?<br>b. What is the value of net exports?<br>c. What is the value of disposable income?<br>

Extracted text: Y At right is a simplified circular-flow diagram for the economy of Micronia. (Note that there is no investment in Micronia.) a. What is the value of GDP in Micronia? b. What is the value of net exports? c. What is the value of disposable income?

Jun 08, 2022

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Government purchases of goods and services = $100 %3D Government Taxes $100 Wages, profit, interest, Consumer Households spending = $650 %3D rent = $750 %3D Factor Markets for goods and services...

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