In an open economy, the National Income (Y) of the economy is : (C = Consumption, I = Investment, G = Government expenditure, X = Total exports, M = Total import)

Options

A. 1.Y = C + I + G +X`
B. `2.Y = I + G - X + M`
C. 3.`Y = C + I + G + (X - M)`
D. 4.`Y = C + I - G + X - M`

Answer

C