Real GDP grew 1 percent in the first quarter of 2011. Business investment increased 3.2 percent, exports
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Use the letters on the figure in Problem 3 to indicate the flow in which each item in the news clip occurs. How can GDP have grown by only 1.0 percent with business investment and exports up by much more than 1 percent?
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GDP which grew 1 percent can be measured as aggregate income which is flow A in the figure or a...View the full answer
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Related Book For
Macroeconomics Canada in the Global Environment
ISBN: 978-0321778109
8th edition
Authors: Michael Parkin, Robin Bade
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