Consider the country of Agrovia, whose GDP is discussed in A Numerical Example on page 396. Construct

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Consider the country of Agrovia, whose GDP is discussed in "A Numerical Example" on page 396. Construct a set of national accounts like that in Table 20-6 assuming that wheat costs $5 per bushel, there is no depreciation, wages are three-fourths of national output, indirect business taxes are used to finance 100 percent of government spending, and the balance of income goes as rent income to farmers.

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Economics

ISBN: ?978-0073511290

19th edition

Authors: Paul A. Samuelson, William Nordhaus

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