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Question 1 Export of goods and services1000 Imports of goods and services800 Private inspiration expenditures900 enkindle factor income from foreign countries d Government consumption expenditures800 elucidate investment funds850 Interest of home(a) debt775 Salaries and wages 1150 Job remunerations 750 wear and institutionalise 650 Indirect taxation 550 Income tax 575 Subsidy 550 a) hoggish domestic harvest m/c: C+I+G+(N-x)+ derogation= 900+850+800+(1000-800)+650 = 3400 b)gross content product m/c: GDPm/c + authorize income from abroad= 3400+500= 3900 c)Total national net output f/c= GNP m/c wear and tear= 3900-650= 3250 d)Net national product m/c= GDPm/c+Net manner income from foreign countries+subsidy- wear and tear= 3400+500+550-650= 3250 e)Gross investment= net investment + depreciation= 850+ 650= 1500 f)National income f/c= GNP m/c depreciation= 3900-650= 3250 Question 2(a) What are the characteristics and causes of a recession box is what either the world would be afraid and fear, recession canister terminate the countries development in a matter of time.

deferral is outlined as a massive decline in scotch activity spread across the economy, lasting more than than a few months, normally visible in true gross domestic product (GDP), real income, employment, industrial work and wholesale-retail sales. to a greater extent specifically, recession is defined as when businesses cease to expand, the GDP diminishes for ii consecutive quarters, the rate of unemployment rises and trapping prices decline. A breaker prefigure of general economic decline; typically defined as a decline in G! DP for two or more consecutive quarters. A recession is typically accompany by a drop in the stock market, an forge up in unemployment, and a decline in the housing market. A recession is generally considered less severe than a depression, and if a recession continues long enough it is often consequently categorise as a depression. In addition, recession give tongue to as a...

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