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10 cards from this deck
Value of final goods/services produced within country's borders
C+G+I+(X−M)C + G + I + (X - M)C+G+I+(X−M)
S+T+M=I+G+XS + T + M = I + G + XS+T+M=I+G+X
Additional spending when household income increases
Investment (I), govt expenditure (G), export revenues (X)
Savings (S), taxes (T), import expenditure (M)
Economy without foreign sector (no imports/exports/int'l flows)
Economy that trades with other countries & allows foreign invest
Where final products and services are bought and sold
Where factors of production (land, labour, capital) are traded
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