Note the following accounting identity for gross national income (GNI): GNI = C + I + G
Question:
GNI = C + I + G + TB + NFIA
Using this expression, show that in a closed economy, gross domestic product (GDP), gross national income (GNI), gross national expenditures (GNE) are the same. Show that domestic investment is equal to domestic savings.
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Starting from the expression GNI C I G TB NFIA Note that GN...View the full answer
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Related Book For 
International Economics
ISBN: 978-1429278447
3rd edition
Authors: Robert C. Feenstra, Alan M. Taylor
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