Please answer fast Use the data below to calculate the Personal Income for this sample economyHousehold spending onPersonal Tax$980,000$475,000educationPaymentsHousehold spending oncars and furnitureHousehold spending onreal estateFirms spending on$1,200,000$820,000new factoriesFirms spending on$900,000$520,000R&DState spending on$860,000Total Exports$790,000educationState spending onunemployment benefits$400,000Total Imports$1,000,000Federal spending onhighwaysInterest from$1,200,000Retained Earnings$600,000$420,000Depreciation$490,000Government BondsSelect one:a. $6,490,000b. $6,015,000c. I'll take 2 pointsd. $6,000,000e. $5,125,000f. $5,525,000g. $4,725,000o h. $5,600,000

answer calculate the Personal Income for this sample economy

Household spending on education Household spending on cars and furniture Household spending on real estate Personal Tax $980,000 $475,000 Payments Firms spending on $1,200,000 $820,000 new factories Firms spending on R&D $900,000 $520,000 State spending on education $860,000 Total Exports $790,000 State spending on $400,000 Total Imports $1,000,000 unemployment benefits Federal spending on $1,200,000 Retained Earnings $600,000 highways Interest from Government Bonds $420,000 Depreciation $490,000

Household spending on education Household spending on cars and furniture Household spending on real estate Personal Tax $980,000 $475,000 Payments Firms spending on $1,200,000 $820,000 new factories Firms spending on R&D $900,000 $520,000 State spending on education $860,000 Total Exports $790,000 State spending on $400,000 Total Imports $1,000,000 unemployment benefits Federal spending on $1,200,000 Retained Earnings $600,000 highways Interest from Government Bonds $420,000 Depreciation $490,000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 24CTQ: Exercise D24 Compare two policies: a tax cut on income or an increase in government spending on...

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