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Homework: Chapter 2 Homework You are given the following information about an economy. Gross private domestic investment = 40 Government purchases of goods and services

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Homework: Chapter 2 Homework You are given the following information about an economy. Gross private domestic investment = 40 Government purchases of goods and services = 35 Gross national product (GNP) = 270 Current account balance = - 30 Taxes = 40 Government transfer payments to the domestic private sector = 20 Interest payments from the government to the domestic private sector = 20 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world = 6 Factor payments made to rest of world = 9 Find the following, assuming that government investment is zero. Net factor payments from abroad = - 3 . (Enter your answer as a whole number.) GDP = 273 . (Enter your answer as a whole number.) Net exports = -27 . (Enter your answer as a whole number.) Consumption = . (Enter your answer as a whole number.)

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