At right is a simplified circular-flow diagram for theeconomy of Micronia.a. What is the
Chapter 3, Problem 1(choose chapter or problem)
At right is a simplified circular-flow diagram for theeconomy of 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 out of householdsthesum of taxes paid and consumerspendingequal the total flow of money intohouseholds?e. How does the government of Micronia financeits purchases of goods and services?
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