WEEK: 3 ECN 110 1. (a)Describe the circular flow of national income. (b) List three injections into the circular flow of national income. (c) Explain the effect of more injections into the circular flow of national income on the economy 2. Describe the components of GDP accounting, 3. Describe the benefits of economic growth. 4. You are given the following data for the country of Cedar. Exports $90 Government spending S126 Consumption 325 Imports 78 Gross investment 112 Net Foreign factor income 8 Depreciation 175 Indirect taxes 64 a) What is the value of GDP? b) What is the value of national income (net national product at factor costs)