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QUESTION 6 (20 Marks) 6.1 Briefly discuss the main components of total spending in the economy....

QUESTION 6

6.1 Briefly discuss the main components of total spending in the economy.
6.2 Identify the THREE (3) main withdrawals (or leakages) from the circular flow of income and spending in an open economy.
6.3 Explain with examples, the following:

6.3.1 Constant returns to scale.
6.3.2 Increasing returns to scale.
6.3.3 Decreasing returns to scale.

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