Question

In: Economics

Fill in the blanks to make the following statements correct. a. The equation for actual national...

Fill in the blanks to make the following statements correct.

a. The equation for actual national income from the expenditure side is written​ as: GDP = ___________________.

A. Ca + Ia + Ga (Xa - IMa)

B. a + bY

C. C + I + G + (X - IM)

Solutions

Expert Solution

(a) Aggregate expenditure = C+I+G+NX

= C+I+G+(X-IM)

At equilibrium , GDP= Aggregate expenditure = C+I+G+(X-IM)

The equation for actual national income from the expenditure side is written​ as: GDP = C+I+G+(X-IM).

Hence, option(C) is correct.


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