In an open economy, the national income (Y) of the economy i

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19

M: +2.00/-0.67

In an open economy, the national income (Y) of the economy is:

(C, I, G, X, M stand for Consumption, Investment, Govt. Expenditure, total exports and total imports respectively)

I.A.S. (Pre) 2000

[Economic Development - Nature, GDP]

A

Y = C + I + G +X

B

Y = C + I + G - X + M

C

Y = C + I + G + (X – M)

D

Y = C + I - G + X – M

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