What is the economys expenditure and income

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Suppose that the economy consists of only two individuals, Leland has $1290 available to spend on goods. He decides to purchase $530 worth of produce from Krista in the current quarter. No other economic activity takes place during the current quarter. Answer the following questions.

1. For the current quarter what is the economy's income?

2. For the current quarter, what is the economy's expenditure?

3. In an economy, how are income and expenditure related?

Reference no: EM131004783

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