The figure shows the flows of expenditure and income on Lotus Island. In 2016, R was $11 billion; W was $35 billion; U was $10 billion; Jwas $20 billion; and Z was $6 billion. Calculate total expenditure and total income. Total expenditure is $ billion. Total income is $ billion.

The figure shows the flows of expenditure and income on Lotus Island. In 2016, R was $11 billion; W was $35 billion; U was $10 billion; Jwas $20 billion; and Z was $6 billion. Calculate total expenditure and total income. Total expenditure is $ billion. Total income is $ billion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The figure shows the flows of expenditure and income on Lotus Island.
In 2016, R was $11 billion; Wwas $35 billion; U was $10 billion; J was $20 billion; and Z was $6 billion.
Calculate total expenditure and total income.
Total expenditure is $ billion.
Total income is $
billion.
FINANCIAL
HOUSEHOLDS
MARKETS
U
Gr
GOODS
MARKETS
FACTOR
MARKETS
FIRMS
REST
WORLD
OF

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