HOUSEHOLDSGOVERNMENTSFACTORMARKETSGOODSMARKETSX-MRESTOFWORLDX-MFIRMSIn the above diagram, flow Y was $10 trillion, flow C was $8 trillion, flow I was $3 trillion, and flow (X-M) was -$5 trillion. Calculate government expenditure.

Y = C + I + G + (X-M) Where C = Consuption = $8 trillion I = Investment = $3 trillion G =…

Answered: HOUSEHOLDS GOVERNMENTS FACTOR MARKETS…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 6SQP

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HOUSEHOLDS GOVERNMENTS FACTOR MARKETS GOODS MARKETS X-M REST OF WORLD X-M FIRMS In the above diagram, flow Y was $10 trillion, flow C was $8 trillion, flow I was $3 trillion, and flow (X-M) was -$5 trillion. Calculate government expenditure.