Critical Thinking: Let's make it as realistic as possible to the US. In 2020, the US had both a government and trade deficit. With that in mind, draw the complete circular flow diagram solving and filling in all values. (Notes, all values are in trillions of dollars; government spending and taxes do not include transfers) Real GDP: 18.38 Consumption: 12.63 Government Spending: 3.36 Taxes: 2.06 Imports: 3.15 Exports: 2.21

Critical Thinking: Let's make it as realistic as possible to the US. In 2020, the US had both a government and trade deficit. With that in mind, draw the complete circular flow diagram solving and filling in all values. (Notes, all values are in trillions of dollars; government spending and taxes do not include transfers) Real GDP: 18.38 Consumption: 12.63 Government Spending: 3.36 Taxes: 2.06 Imports: 3.15 Exports: 2.21

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter20: Exchange Rates And The Macroeconomy

Section: Chapter Questions

Problem 2TY

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