Suppose a country's gross domestic product (GDP) is measured by summing the money value of expenditures made
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Question:
Suppose a country's gross domestic product (GDP) is measured by summing the money value of expenditures made by groups of identifiable economic agents in the economy over a given period (e.g., a year). (a) Describe the identifiable group of economic agents responsible for the net export (X-M), and what does it mean if this account was -140 billion rands in SA in 2018? (9 pts) 3 (b) In light of the scenario in (a), if SA's fiscal budget balance in 2018 was -240 billion rands, what would have been the relationship between net export and SA's domestic private savings in 2018?
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