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The figures in the table below represent the only income payments received by households. Rent Wages Interest and profit bn 5 75 20 Assume that
The figures in the table below represent the only income payments received by households.
Rent Wages Interest and profit bn 5 75 20 Assume that there are injections into and withdrawals from the circular flow. Investment is 10 billion, government spending 20 billion and exports 30 billion. Savings are 15 billion, and taxes are 15 billion. (i) What must be the equilibrium level of imports? (ii) Calculate household domestic consumption. (4 marks)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
