ECON224 Unit 2 IP - ECON224 unit 2 IP (Graded A+) - 36482

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In the textbook, there are two circular flow diagrams: One that represents the flows in the macro-economy as a closed system and one that represents the flows as an open system. Review the diagrams and write a three to five page length paper that:

·         Defines and explains a closed system and provides an example.

·         Defines and explains an open system and provides an example.

·         Explains the inner and outer flows of a closed system.

·         Explains the inner and outer flows of an open system.

·         Defines and explains leakages in an open system.

·         Defines and explains injections in an open system.

·         Provides a personal example of a leakage, describes it and explains it.

 

·         Provides a personal example of an injection, describes it and explains it.

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A++++++++++++

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How do you define Macro.docx
How do you defi...