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Question 1 Export of goods and services1000 Imports of goods and services800 Private inspiration expenditures900 open fire factor income from foreign countries d Government consumption expenditures800 top investment funds850 Interest of home(a) debt775 Salaries and wages 1150 Job remunerations 750 wear and bill 650 Indirect taxation 550 Income tax 575 Subsidy 550 a) rude domestic yield m/c: C+I+G+(N-x)+ disparagement= 900+850+800+(1000-800)+650 = 3400 b)gross matter product m/c: GDPm/c + pull in income from abroad= 3400+500= 3900 c)Total national net output f/c= GNP m/c depreciation= 3900-650= 3250 d)Net national product m/c= GDPm/c+Net message income from foreign countries+subsidy-depreciation= 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 entirely the worl d would be afraid and fear, recession canister destroy the countries development in a matter of time.

deferral is delimitate as a massive decline in frugal 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. more(prenominal) specifically, recession is defined as when businesses cease to expand, the GDP diminishes for two consecutive quarters, the rate of unemployment rises and lodgement prices decline. A breaker channelize of general economic decline; typically d efined as a decline in GDP for two or more c! onsecutive quarters. A recession is typically accompany by a drop in the stock market, an moulding 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 because categorise as a depression. In addition, recession express as a...

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