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1. Posit c closed economy with household, business, and government sectors. Individuals receive income of $760 and pay taxes of $100 to the government; consumer
1. Posit c closed economy with household, business, and government sectors. Individuals receive income of $760 and pay taxes of $100 to the government; consumer spending is $560; gross investment is $110; depreciation is $40; government spending is $130. (a) Find GDP and household saving. (b) What are the leakage and injections for this closed economy model? What is the relationship between these leakages
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