The accompanying schedule contains data for a private closed economy. all figures are in billions. if a lump-sum tax of $20 is imposed, the consumption schedule will become
GDP: $140, 180, 220, 260, 300
C: $130, 160, 190, 220, 250
This is further explained below.
Generally, The statistics for a closed and privatized economy may be found in the following schedule. all values are in billions. The consumption schedule will become more complicated if a one-time tax payment of $20 is implemented.
In conclusion, the condition of a nation or area in terms of the production and consumption of goods and services as well as the availability of money in circulation.
GDP: $140, 180, 220, 260, 300
C: $130, 160, 190, 220, 250
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