If GDP is $1000 and consumer spending is $600, taxes are $100 and government purchases are $200.

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If GDP is $1000 and consumer spending is $600, taxes are $100 and government purchases are $200. What is the amount of savings and that of investment?

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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Posted Date: Jan 08, 2024 03:30 AM

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If GDP is $1000 and consumer spending is $600, taxes are $100 and government purchases are $200.

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Before we proceed we need to understand a few key concepts GDP or Gross Domestic Product is the tota... View the full answer

Modern Principles of Economics

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