Sample 4

IB Economics: Sample 4

Part (a)National income is the total value a country"s final output of all new goods and services produced in one year. The circular flow of income model provides an overview of important relationships in the macro economy. Leakages are the moneys that leave the circular flow and injections are moneys that enter the circular flow. Example of an injection could be foreign investment into the country. For instance, Qatar’s...

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