ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The question is based on open economy
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Step 1: Define domestic expansion
VIEW Step 2: Discuss the effects of increasing autonomous spending on income and import
VIEW Step 3: Discuss the effects of increasing autonomous spending on foreign income
VIEW Step 4: Combine the domestic and foreign effects to have the equilibrium for the domestic goods market
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