Document5.docx - Alcantara, Jesse 10/13/2020 P.2 Assignment...

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Alcantara, Jesse 10/13/2020 P.2Assignment SummaryFor this assignment, you will complete a worksheet to analyze statistics related to the economies ofthree nations and explain the role of government in the circular flow of income.Background InformationThe circular flow of income is the exchange of money between firms and households. Firms pay incometo households as wages to workers. In turn, workers use that money to buy goods and services. Thisprovides revenue to firms to produce more goods and services and pay more workers, and the cyclecontinues. Injections into the economy and withdrawals from it can affect this flow of money. In a mixed-market economy, government plays a role as well. The government collects money from households inthe form of taxes. It spends this money on a variety of programs and projects, including defensespending, healthcare costs, and infrastructure. Governments also make trade deals to control the flow ofgoods and funds between countries, which affects nations’ incomes.For this project, you will study tables with statistics related to the incomes of three nations. Then, youwill write short paragraphs to explain these statistics and analyze national income.Assignment InstructionsFor this project, you are expected to submit a completed form of the “Analyze National Income”worksheet.

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Term
Fall
Professor
Staff
Tags
Economics, Sovereign state, government spending

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