Complete the following table then draw the complete circular flow diagram in the space below for...

Complete the following table then draw the complete circular flow diagram in the space below for each row: (consult your notes for the abbreviations. Each row is independent of the others)

	Y	C	I	G	T	S	Import	Export	NX	NCO
Row 1		1000	800	400	400		850	700
Row 2	1500	750		250		500		400		-200

2.Critical Thinking: Let’s make it as realistic as possible to the US. In 2018, the US had both a government and trade deficit. With that in mind, complete the following table and draw the complete circular flow diagram in the space below. (Notes, all values are in trillions of dollars)

Y	C	I	G	T	S	NX	NCO
18.64	12.94		4.11	3.33			0.92

Solutions

Expert Solution

national income is the money value of all the goods and services which are produced in a domestic country during a financial year.

circular flow in an economy is the model that represent the exchange of money, goods and services in an economy as a flow between economic agents.

Rahul Sunny answered 1 year ago

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