Question

In the real GDP equation there is Internal Revenue and Expenditure. Which is independent variable and which one is dependent variable?

Answers

GPT 3.5
In the real GDP equation, Internal Revenue is the independent variable and Expenditure is the dependent variable. Internal Revenue is the total amount of income generated within an economy, while Expenditure is the total amount of money spent within that economy. Internal Revenue drives Expenditure, as the amount of income earned by individuals and businesses determines how much they are able to spend.

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