ECO209Y1 Study Guide - Midterm Guide: Disposable And Discretionary Income, Government Budget Balance, Aggregate Demand
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The total time for this test is 1 hour and 50 minutes. Instructions: enter your answer to each question in the table below. Only the answer recorded in the table will be marked. Table cells left blank will receive a zero mark for that question. No deductions will be made for incorrect answers. E: jim"s nursery produces and sells ,400 worth of flowers. Jim uses in seeds and fertilizer, pays his workers in wages, pays in taxes, pays in interest on a business loan, and makes a profit of . Jim"s contribution to gdp is: consider an economy without depreciation of the capital stock, without government transfer payments, and where personal income tax is the only source of government revenues. Page 2 of 13: suppose that the government collects million in taxes, pays million in social security benefits, pays sh. 5 million in interest on the national debt, and pays workers million in wages.
