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2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts

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Question 16

In the circular flow of income model of an economy, which one of the following relationships is correct?

National Output ≡\equiv≡ National Income ≡\equiv≡ National Expenditure

National Output + Injections ≡\equiv≡ National Expenditure + Withdrawals

National Income −-− Withdrawals ≡\equiv≡ National Expenditure + Injections

National Output ≡\equiv≡ Injections ≡\equiv≡ Withdrawals

2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts Questions

  1. A Level
  2. /Economics
  3. /2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts