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Econ 100B Section 3 Answers

Interest payments in government debt e real vs nominal

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Unformatted text preview: goods purchased in the county that are purchased by foreigners b) Imports: good produced abroad that are purchased by residents in the country D. Income Approach The total income earned from newly produced final goods and services in the domestic economy during a specified period of time. 1) What are the five different income measures? a) GDP – Gross Domestic Product • Add what US citizens earn abroad, subtract what foreigners earn here • GDP =GNP + net factor income b) GNP – Gross National Product • GNP = National Income + Depreciation + Statistical Discrepancy c)...
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