Answered: Which of the following national income…

Which of the following national income accounting identities are true for a closed economy in the absence of a government? A. Y=C+I+G+X−M. B. Y=C+I+X−M. C. Y=C+I. D. Y=C+S.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 5E

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Question

Which of the following national income accounting identities are true for a closed economy in the absence of a government?

Y=C+I+G+X−M.

Y=C+I+X−M.

Y=C+I.

Y=C+S.

Definition Definition Monetary value of all goods and services produced in an economy during a financial year. National income also refers to the total income earned by the factors of production during a financial year.

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