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In a small, closed economy, national income (GDP) is $600.00 million for the current year. Individuals have spent $250.00 million on the consumption of goods
In a small, closed economy, national income (GDP) is $600.00 million for the current year. Individuals have spent $250.00 million on the consumption of goods and services. They have paid a total of $100.00 million in taxes, and the government has spent $200.00 million on goods and services this year. Use this information and the national income identity to answer the questions. How much is spent on investment in this economy? investment: $ million What is national saving in this economy? saving: $ million How are investment and national saving related in an economy like this
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