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Econ: Balance of Payments
 
Can anyone please explain to me why: (CFAI p. 621)  
 
Y= C+ I + G + X -M  
 
goes on to be  
 
Y= C + S + T ?  
 
 
and how does X-M (net exports) come to equal the sum of Government sector + Private sector?  
 
How do net exports relate to gov and private??  
 
An explanation would be highly appreciated |   
 
 
 
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