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The Macro Identity states that total spending in the economy (comprising 4 components) equals total income available to households (comprising 3 basic components) as follows:

The "Macro Identity" states that total spending in the economy (comprising 4 components) equals total income available to households (comprising 3 basic components) as follows: C + I + G + NX = C + S + T, all measured in nominal dollar terms. Recall also that NX = (X - M) and T stands for the net taxes the government collects from households. According to the U.S Commerce Department private savings are $8,000B, government budget deficit is $3,700B, investment is $4,500B, and the value of imports is 3,400B. Your firm is an exporter. It wants to estimate the dollar value of all exported goods and services. Could you estimate which of the following values is correct? To earn full credit, show all the computations you make to defend your answer. a. 3,200 billion dollars b. 2,800 billion dollars c. 2,400 billion dollars d. 0 (No exports)

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