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Calculate the trade balance for economy

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Reference no: EM132631407

Use the following data answer the questions below:Household saving equals 24 Investment by firms equals 35

Government spending equals 14

Government tax revenue equals 19

a) Calculate the trade balance for this economy.

b) Does this data refer to a pre-Turning Point or post-Turning Point economy? Briefly explain your answer, and also briefly explain the meaning of the term `Turning Point'. You do not need a diagram for this answer.

Reference no: EM132631407

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