Consumption expenditure in 2021 is 60 million and in 2022 its 70 million.
Investment in 2021 is 15 million and in 2022 it's 20 million.
Government expenditure in 2021 is 30 million and in 2022 it's 35 million.
Export in 2021 is 15 million and in 2022 it's 20 million.
Savings in 2021 is 20 million and in 2022 it's 10 million.
Tax in 2021 is 40 million and in 2022 it's 50 million.
Import in 2021 is 20 million and in 2022 it's 30 million.
According to the information given above, Describe precisely the level of economic activity 2022 compared to 2021.
In 2022, the total expenditure increased from 105 million to 125 million, indicating an increase in economic activity. This is mainly driven by an increase in consumption expenditure, investment, government expenditure, and exports. However, savings decreased from 20 million to 10 million, indicating a lower level of savings in 2022 compared to 2021. Additionally, imports also increased from 20 million to 30 million, indicating an increase in the purchase of foreign goods. Overall, the level of economic activity in 2022 is higher than in 2021.
Use the same information to calculate the net exports in 2022.
Net exports can be calculated by subtracting imports from exports.
In 2022, exports were 20 million and imports were 30 million.
Therefore, net exports in 2022 would be:
Net Exports = Exports - Imports
Net Exports = 20 million - 30 million
Net Exports = -10 million
This indicates that in 2022, there is a net export deficit of 10 million.