Assume an economy that presents, in a given year, the following values for each of the variables

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Assume an economy that presents, in a given year, the following values for each of the variables below:

wages: 500

rents: 300

interest: 50

profits: 80

depreciation: 0

personal consumption: 700

government consumption: 200

stock variation: 100

exports: 100

imports: 180

indirect taxes: 200

Gross fixed capital formation: unknown positive value

What will be the value of the GDP (at current prices) of this economy in that year?

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Macroeconomics

ISBN: 978-0132991339

5th edition

Authors: Stephen d. Williamson

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Posted Date: Jan 24, 2024 07:12 AM

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Assume an economy that presents, in a given year, the following values for each of the variables

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Gross Domestic Product GDP can be calculated using the Expenditure Approach which sums the main cate... View the full answer

Macroeconomics

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