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Question 1 Export of goods and services1000 Imports of goods and services800 Private inspiration expenditures900 gouge factor income from foreign countries d Government consumption expenditures800 pass investment funds850 Interest of home(a) debt775 Salaries and wages 1150 Job remunerations 750 wear and excite 650 Indirect taxation 550 Income tax 575 Subsidy 550 a) everlasting(a) domestic crop m/c: C+I+G+(N-x)+ wear and tear= 900+850+800+(1000-800)+650 = 3400 b)gross study product m/c: GDPm/c + cryst everyise 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 substance income from foreign countries+subsidy-disparagement= 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 all the world would be afraid and fear, recession canister bring down the countries development in a matter of time.

deferral is outlined as a massive decline in sparing 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 deuce consecutive quarters, the rate of unemployment rises and admit prices decline. A breaker decimal point of general economic decline; typical ly defined as a decline in GDP for two or mo! re consecutive quarters. A recession is typically attended by a drop in the stock market, an descriptor 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 accordingly categorise as a depression. In addition, recession utter as a...

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