00:01
So here we're going to do some macroeconomic accounting.
00:03
We're told lots of different things.
00:04
We're told that government purchases are 1050, again in billions.
00:08
We're told that consumption is equal to 4 ,800.
00:12
We're told that imports, m are equal to 370.
00:16
We're told that exports are equal to 240.
00:20
We're told that investment is equal to 1130.
00:25
And we're asked to find consumption over y, right? say personal consumption expenditures are what percentage of the economy, the first thing you need to know is how big is the economy? well, the economy, of course, is c plus i plus g plus x minus m, which is going to be 4 ,800 plus 1130, plus 1050, plus 370 minus 240...