Economic In an economy, 75 per cent of the increase in income is spent on consumption. Investment is increased by $1000 million. Calculate i) Total increase in income (ii) Total increase in consumption expenditure.

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A:

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A:

Q: Question ind total consumption expenditure and isposable income of household.

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Q: explain the concept of National income.Also state its features

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A: Gross domestic product (GDP) is the standard measure of the value added created through the…