economics mats Y=C+i-g= need help

tonyheaney

is there a site or can you help me to better understand??

If the National Income Y=C+i-g= €2400 million, calculate the National income If exports (x) 300 million and Imports (m) are 200 million

I so need help

Saipanne

tonyheaney wrote: »

is there a site or can you help me to better understand??

If the National Income Y=C+i-g= €2400 million, calculate the National income If exports (x) 300 million and Imports (m) are 200 million

I so need help

National income is:

Y = C + I + G + NX

Where NX is Exports minus Imports.

Can you work it out now?

tonyheaney

Saipanne wrote: »

National income is:

Y = C + I + G + NX

Where NX is Exports minus Imports.

Can you work it out now?

Its still a bit beyond me, i don't want to come across as really unintelligent. I hope im not. Am i dividing multiplying or subtracting the €2400 - 300 million and 200 million? how do i come to NX

Saipanne

tonyheaney wrote: »

Its still a bit beyond me, i don't want to come across as really unintelligent. I hope im not. Am i dividing multiplying or subtracting the €2400 - 300 million and 200 million? how do i come to NX

You're not unintelligent, I struggled with this too, once upon a time.

Ok, so the formula is:

Y = C + I + G + NX

We know that C + I + G is 2400, so

Y = 2400 + NX

Now, NX (this means Net Exports, by the way) = Exports - Imports, which we are told is:

NX = 300 - 200

Which means NX is 100.

Therefore:

Y = 2400 + 100

Y = 2500


Make sense?

tonyheaney

Saipanne wrote: »

You're not unintelligent, I struggled with this too, once upon a time.

Ok, so the formula is:

Y = C + I + G + NX

We know that C + I + G is 2400, so

Y = 2400 + NX

Now, NX (this means Net Exports, by the way) = Exports - Imports, which we are told is:

NX = 300 - 200

Which means NX is 100.

Therefore:

Y = 2400 + 100

Y = 2500


Make sense?

Hi Saipanne, It took me a while to get it, but to simplify it its 2400 = 300 - 200 = 2500 and i just have to remember the Y = C + I + G + (X-M) = GDP

Saipanne

tonyheaney wrote: »

Hi Saipanne, It took me a while to get it, but to simplify it its 2400 = 300 - 200 = 2500 and i just have to remember the Y = C + I + G + (X-M) = GDP

Yes, that's it.

By the way, there is an economics forum on boards, under the science category. They're generally happy to answer questions there.

I'd also recommend YouTube for tutorials on these topics.

tonyheaney

Cheers Saipanne, also do you have the boards link?

endacl

tonyheaney wrote: »

Cheers Saipanne, also do you have the boards link?

Search bar + 'economics' = answer?

Saipanne

http://touch.boards.ie/forum/858

tonyheaney

endacl wrote: »

Search bar + 'economics' = answer?

you made me smile lol :D Y=E+B+A lol