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

  • 04-10-2015 4:06pm
    #1
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭


    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


Comments

  • #2
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭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?


  • #3
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭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


  • #4
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭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?


  • #5
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭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


  • #6
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭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.


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  • #7
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭tonyheaney


    Cheers Saipanne, also do you have the boards link?


  • #8
    endacl
    Registered Users, Registered Users 2 Posts: 22,362 ✭✭✭✭endacl


    tonyheaney wrote: »
    Cheers Saipanne, also do you have the boards link?

    Search bar + 'economics' = answer?

    :)


  • #9
    Saipanne
    Closed Accounts Posts: 4,882 ✭✭✭Saipanne


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


  • #10
    tonyheaney
    Closed Accounts Posts: 1,686 ✭✭✭tonyheaney


    endacl wrote: »
    Search bar + 'economics' = answer?

    :)

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


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