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Simplified Circular Flow Diagram For

Question

Simplified circular flow diagram for

the economy of Micronia. ( no investment in Micronia.)

a. what is the value of GDP in Micronia?

b. What is the value of net exports?

c. what is the value of disposable income?

d. Does the total flow of money of of houses holds the sum of taxes paid and consumer spending equal the total flow of money into households?

e. How does the government of Micronia finance its purchases of goods and services?

for
no.
Government purchases of
goods and services = $100
Government
Taxes = $100
Consumer
Households
Wages, profit,
spending = $650
interest,
rent = $750
Markets for goods
Factor
and services
markets
Gross
Wages, profit,
domestice
interest,
product
rent = $7500
Firms
Exports = $20
Imports = $20
Rest of world
purchases of
rvices = $150
Government borrowing = $60
Government
Taxes = $100
Government transfers = $10Macroeconomics