The following figure illustrates the circular flow model. During 2021, flow A was $13.0 trillion, flow B
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The following figure illustrates the circular flow model.
During 2021, flow A was $13.0 trillion, flow B was $9.1 trillion, flow D was $3.3 trillion, and flow E was −$0.8 trillion. Calculate (i) GDP and (ii) government expenditure.
Transcribed Image Text:
FACTOR MARKETS A A HOUSEHOLDS FIRMS D B GOVERNMENTS B GOODS MARKETS DOCE E REST OF WORLD
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Certainly based on the circular flow model youve described we can calculate GDP and government expen...View the full answer
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