The following equations relate to an open economy with a government sector. E = aggregate expenditure on domestically produced goods, C = Consumption, I = I...
Question 1 Report
The following equations relate to an open economy with a government
sector. E = aggregate expenditure on domestically produced goods, C =
Consumption, I = Investment, G = Government expenditure, T = taxes, M =
imports, X = Exports. Which equation is correct
Answer Details
The national income of a country can be estimated as aggregate
expenditure, consumption, investment, government expenditure, export
less import. Import will be deducted because it is the money paid on
importation of goods from other countries.
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