b. Assume the budget deficit in a closed economy is $2b,
c. Calculate GDP using the following information only:
A flour mill produces $1000 worth of flour, of which $600 goes to a bakery (where bread is produced) and $400 to consumers. A water supplier produces $300 worth of water, of which $200 goes to the bakery and $100 to consumers. The bakery produces $1500 worth of bread and sells all of it to consumers.
d. The country of Tinbutu does not trade with any other country. Its GDP is $20 billion. Its government collects $4 billion in net tax revenue. Consumption equals $15 billion,
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