Position each of the following eight terms in the UK’s circular flow of income diagram below: Consumption (of domestically produced goods and services); Net saving; Net taxation; Government expenditure; Factor payments (national income); Expenditure on imports; Investment; Expenditure on exports. Economists use specific letters to label each of these terms. The letters used are: S, G, X, M, I, Cd, T, Y Attach the correct letter to each
Position each of the following eight terms in the UK’s circular flow of income diagram below: Consumption (of domestically produced goods and services); Net saving; Net taxation; Government expenditure; Factor payments (national income); Expenditure on imports; Investment; Expenditure on exports. Economists use specific letters to label each of these terms. The letters used are: S, G, X, M, I, Cd, T, Y Attach the correct letter to each
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Position each of the following eight terms in the UK’s circular flow of income diagram below:
Consumption (of domestically produced goods and services); Net saving; Net
Government expenditure; Factor payments (national income); Expenditure on imports;
Investment; Expenditure on exports.
Economists use specific letters to label each of these terms. The letters used are:
S, G, X, M, I, Cd, T, Y
Attach the correct letter to each of the terms you have written on the diagram.
Transcribed Image Text:1. Position each of the following eight terms in the UK's circular flow of income diagram
below:
Consumption (of domestically produced goods and services); Net saving; Net taxation;
Government expenditure; Factor payments (national income); Expenditure on imports;
Investment; Expenditure on exports.
Economists use specific letters to label each of these terms. The letters used are:
S, G, X, M, I, Ca, T, Y
Attach the correct letter to each of the terms you have written on the diagram.
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