Given the following data about the economy: a. Calculate aggregate output (GDP) and aggregate income. b. Compare
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a. Calculate aggregate output (GDP) and aggregate income.
b. Compare the two calculations in a. Why are they not precisely equal?
c. Calculate GNP.
d. Calculate NDP
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a The expenditure approach Aggregate output C I G X M 700 500 300 275 1775 ...View the full answer
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