Macroeconomics:Circular Flow of Income

Macroeconomics:Circular Flow of Income - Gross Domestic...

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Econ 4.3 Wednesday, February 3, 1999 Announcements: The online quizzes are up on the webpage. They are worth a maximum of 10 points each. You need a 70% or higher to get the points and you can take it up to three times. . Lecture notes: Macroeconomics Circular Flow of Income There are always two sides to every transaction Households sell resources to firms and as a result get back a product Withdrawals represent reductions in economic activity
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Unformatted text preview: Gross Domestic Product (GDP): The total market value of all final goods and services produced within a given period by factors of production located within a country Withdrawals and Injection Withdrawals Injections Household Savings Household Investment Household Taxes Household Exports Household Imports Business Investment Business Savings Business Exports Business Taxes Government Purchases Business Imports...
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Macroeconomics:Circular Flow of Income - Gross Domestic...

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