What is the value for net exports if consumer spending is $21,049, gross private domestic investment is $9,253, government purchases are $5,293, exports are $4,303, imports are $4,856, wages are $10,871, and indirect business taxes are $1,543? Other potentially useful components are unknown. Enter the value without a $ and without commas.
What is the value for net exports if consumer spending is $21,049, gross private domestic investment is $9,253, government purchases are $5,293, exports are $4,303, imports are $4,856, wages are $10,871, and indirect business taxes are $1,543? Other potentially useful components are unknown. Enter the value without a $ and without commas.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
What is the value for net exports if consumer spending is $21,049, gross private domestic investment is $9,253, government purchases are $5,293, exports are $4,303, imports are $4,856, wages are $10,871, and indirect business taxes are $1,543? Other potentially useful components are unknown. Enter the value without a $ and without commas.
Expert Solution
Step 1
Net exports refer to the value of a country's total exports of goods and services minus its total imports of goods and services. In other words, net exports represent the net flow of goods and services between a country and the rest of the world.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education