3 (i) Explain the relationship between the current account balance given by exports (X)minus imports (M) and the following four variables: private investment (I), privatesavings (S), Taxes (T), and government expenditure on goods and services (G).(ii) Explain the difference between a closed economy fiscal multiplier and an openeconomy fiscal multiplier giving the appropriate equations. In both cases incorporate agovernment sector with an income tax rate given by t.(iii)Explain what is meant by the current account multiplier in relation to a fiscal expansion,giving the appropriate equation

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Explain the relationship between the current account balance given by exports (X) minus imports (M) and the following four variables: private investment (I), private savings (S), Taxes (T), and government expenditure on goods and services (G).

Explain the relationship between the current account balance given by exports (X) minus imports (M) and the following four variables: private investment (I), private savings (S), Taxes (T), and government expenditure on goods and services (G).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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