Suppose that an economy consists of only two individuals. Jeremy has $1830 available to spend on goods. He decides to purchase $930 worth of produce from Michele in the current quarter. No other economic activity takes place during the current quarter.
A) For the current year, what is the economy's income?
B) For the current year, what is the economy's expenditure?
C) In an economy, how are income and expenditure related?
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Suppose that an economy consists of only two individuals. Jeremy has $1830 available to spend on goo...
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