In an open economy, the National Income of the economy

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

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

Correct Option: C

N/A