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My answer for (d) was 1600. but the guide says its 3600, are the correct in their caluculation? Consider a closed economy with no government sector in which consumption (C) is related to income (Y) by the equation:C = A + cY (a) What is the marginal propensity to consume? c (b) How...

Why cant actual income be more than The equilibrium output?

lol guys (2014 on a 2005 thread) anyways, my book says an Injection is money that flows to firms WITHOUT being recycled through house holds. So i was thinking since transfer payments are recycled back to households, then they don't qualify as injections into the circular flow. what do you think?

According to the ONS, United Kingdom National Accounts (2003 edition), GDP at current market prices was £994 309 in 2001 and £1 099 896 in 2003. The implicit GDP deflator was 100.0 in 2001 and 106.3 in 2003. Calculate real and nominal growth in GDP for 2002 and 2003. Instructions: Round your...