Question

The four sector economy is also known as


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Answer 1

A four-sector model of economy includes households, businesses, government, and foreign trade. ... In four-sector economy, exports are the injections in the national income, while import act as leakages or outflows of national income...

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Answer 2

Answer:

The circular flow model in four sector economy provides a realistic picture of the circular flow in an economy. Four sector model studies the circular flow in an open economy which comprises of the household sector, business sector, government sector, and foreign sector.