Week 07, Day 2 - Assignment 4

Week 07, Day 2 - Assignment 4 - ASSIGNMENT #4 This...

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ASSIGNMENT #4 This assignment is due at the beginning of class on Thursday 28 February 2008 . A 50% deduction will be made for assignments handed in after this time. Another 50% deduction will be made for those assignments handed in after class on Friday 29 February 2008 (ie your mark will be zero). While you are encouraged to discuss the questions with your classmates, you must write the assignment on your own (using your own words). Do not copy someone else's answers. This assignment covers materials from Chapter 9. You will find this assignment easier to do after you've read the textbook, reviewed your notes, and answered questions from the textbook, study guide or Aplia. Answer all of the following questions. 1. The following is known about an open economy. Gross Domestic Product = $900 billion Consumer spending = $720 billion Transfers = $50 billion Government purchases = $160 billion Taxes = $120 billion Exports = $210 billion Imports = $220 billion a) How much personal income do households have? Explain or show work.
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This note was uploaded on 10/13/2009 for the course ECON 1221 taught by Professor Whitaker during the Winter '09 term at Langara.

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