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Lecture 8 - Lecture 8 Government gets money from us from...

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Lecture 8 2/26/08 Government gets money from us from taxes and borrowing (finance) Y=C+I+G+X-M (subtract out the imported goods from what we consume) 2.2 trillion of what we buy is from foreigners. Spending total 9.2 trillion total, and 7 tril- lion is domestically bought. Components of GDP GDP (production) = Expenditure + Inventory Services...Housing, Housing operation, transportation, medical Nondurable Goods...foods, gas in your, clothing Durable Goods...Appliances, home furnishing, automobiles, things that last at least 3 years.
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