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Am I on the right track here? I feel like I'm missing something in my Calculation.... 1. Suppose you are given the following data for
Am I on the right track here? I feel like I'm missing something in my Calculation....
1.Suppose you are given the following data for the economy of Xanadu.
Government expenditure: $30 billion
Aggregate income: $90 billion
Consumption expenditure: $65 billion
Investment: $15 billion
Exports of goods and services: $5 billion
Calculate the following (show and explain your work):
a.Aggregate expenditure
Aggregate Expenditure = I +G+X+C
Aggregate Expenditure = 15 + 30 + 5 + 65
Aggregate Expenditure = $115 billion
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