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10 min please 1. In an open economy, which of the following equations properly represents the relationships among the components of GDP? A) Q =

10 min please

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1. In an open economy, which of the following equations properly represents the relationships among the components of GDP? A) Q = C + I + G + (Ex - Im) B) Q = C + I + G + (Im - Ex) C) Q = C + I + (G - T) + (Ex - Im) D) Q = C + S + T + (Ex - Im) 2. is an example of a leakage from the circular flow model. A) Net taxes B) Consumption C) Government purchases D) Exports 3. Which of the following would result if consumers' earned income is unchanged but part of their purchasing power is taken away by a tax increase? A) Unplanned disposable investment B) An increase in disposable income C) An increase in net leakages D) A decrease in disposable income 4. In the circular flow, household saving is shown as a flow into the markets sector of the economy. A) product B) foreign C) factor D) financial

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