-) Critical Thinking: Let's make it as realistic as possible to the US. In 2020, the US had both a government and trade deficit. With that in mind, draw the complete circular flow diagram solving and filling in all values. (Notes, all values are in trillions of dollars; government spending and taxes do not include transfers) Real GDP: 19.61 Consumption: 13.75 Government Spending: 3.43 Taxes: 1.32 Imports: 3.60 Exports: 2.37
-) Critical Thinking: Let's make it as realistic as possible to the US. In 2020, the US had both a government and trade deficit. With that in mind, draw the complete circular flow diagram solving and filling in all values. (Notes, all values are in trillions of dollars; government spending and taxes do not include transfers) Real GDP: 19.61 Consumption: 13.75 Government Spending: 3.43 Taxes: 1.32 Imports: 3.60 Exports: 2.37
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter31: The Impacts Of Government Borrowing
Section: Chapter Questions
Problem 25P: Sketch a diagram of how a budget deficit causes a trade deficit. (Hint: Begin with what will happen...
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![_) Critical Thinking: Let's make it as realistic as
possible to the US. In 2020, the US had both a government
and trade deficit. With that in mind, draw the complete
circular flow diagram solving and filling in all values.
(Notes, all values are in trillions of dollars; government
spending and taxes do not include transfers)
Real GDP: 19.61
Consumption: 13.75
Government Spending: 3.43
Taxes: 1.32
Imports: 3.60
Exports: 2.37](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52fad7f9-097d-4ed4-a9b8-ba0b37335f42%2F758416bc-d217-49b2-9d2e-de0732db0e79%2F5tgyx9n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:_) Critical Thinking: Let's make it as realistic as
possible to the US. In 2020, the US had both a government
and trade deficit. With that in mind, draw the complete
circular flow diagram solving and filling in all values.
(Notes, all values are in trillions of dollars; government
spending and taxes do not include transfers)
Real GDP: 19.61
Consumption: 13.75
Government Spending: 3.43
Taxes: 1.32
Imports: 3.60
Exports: 2.37
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