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Use data below to answer the following questions: Consumption expenditures $300 billion, Government purchases $50 billion Taxes $40 billion, Investment $80 billion, Social Security payments
Use data below to answer the following questions: Consumption expenditures $300 billion, Government purchases $50 billion Taxes $40 billion, Investment $80 billion, Social Security payments $20 billion Imports $30 billion, Exports $40 billion a) How much is GDP? b) How much are net exports? c) Social Security payments are government expenses. Should they be included in GDP? Explain
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