Identify the part of the personal income which is actually available for consumption a. Consumption income b. Disposable income c. National income d. Taxable incom

Q: Define the following terms showing how they are calculated: Gross Domestic Product Gross Domestic…

A: Macroeconomic variables: Macroeconomics is a branch of economics concerned with the study of an…

Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200

A: The data presented in the question above is:- Savings = $1300 Income = $2200 Consumption is to be…

Q: Which of the following is included in personalincome but not in national income?a. Compensation for…

A: Personal Income and National Income varies certainly. National Income includes all the factor…

Q: What items are included in the calculation of GDP using the income approach ?

A: GDP refers to market value of good and services produced in a country in current period of time  So…

Q: Explain the importance of circular flow of income in an economy...

A: According to the given question Circular flow of income is considered as an simple concept in…

Q: What are the main precautions needed to be taken while calculating the national income?

A: According to the given question National income is considered as the income which is considered as…

Q: Differentiate between the following: a) b) Expenditure Approach and the Value added Approach Nominal…

A: a) Expenditure approach Value-added approach In this, total spending on the final value of…

Q: Explain the Basic Equation of National Income with its genesis meaning.

A: The National Income(NI) is the aggregate sum of pay building to a country from economic activities…

Q: If consumption is $300 and savings is $400 What will be the income?

A: The information being given is:- Consumption = $300 Savings = $400 We need to calculate the value of…

Q: explain the impact of a low interest rate on gross domestic product(not less than a page)

A: We can determine the impact of low interest rate on gross domestic product by taking IS-LM model. IS…

Q: (iii) Personal Income Disposable Income Household Consumption Expenditure (iv) (v)

A: We have to use given information to derive personal income, disposable income , household…

Q: What must be added to the domestic factor income to avail national income?

A: According to the given question Actually we can say that domestic factor income is basically the…

Q: Question 2 Using the below table for an economy, please calculate a) Nominal income. b) Real income…

A: Hi! Thank you for the question but as per the guidelines, we answer only 3 sub-parts at one time.…

Q: circular flow of income

A: Expenditure: It refers to the minimum expenditure done by an individual to fulfill the utility of an…

Q: If national income is $5,000 billion, compensation of employees is $2,105 billion, proprietor’s…

A: National income: - national income is the market value of all final goods and services produced in…

Q: explain how gross product is calculates using the income approach

A: Gross domestic product is sum of value of all the goods and services that are produced in a country…

Q: Which of the following is a withdrawal from the circular flow of income? a) Wages b) Consumption…

A: In the circular flow model, income is circulated from one participant to another participant in a…

Q: A person's real income will increase by 3% if her nominal income: Increases by 5% while the price…

A: Inflation is the increase in the general price level over a given period of time. Inflation is…

Q: Calculate the value of income if consumption is $2000 and savings is $1200

A: The Given information is as follows:- Consumption expenditure = $2000 Savings expenditure = $1200 We…

Q: Define gross national income (GNI)?

A: There are many factors to measure the economic growth and development of a country. Gross national…

Q: Calculate : a. GDI b. GNI c. NNI d. NI e. Personal income f. Disposable income

A: Income from employment & self employment = 25000 Income from rent, dividend & interest =…

Q: The salary of a consumer increased from ¢90, 000 to ¢110,000, which represents his salary for 2021…

A: Given: Salary in 2021=90000 Salary in 2022=110000

Q: a. What do households do in the factor market, buy or sell? A. buy B. sell b. In the Factor…

A: Households, in the Factor Market, are the owners of the factors of production in the circular flow…

Q: if national income is $600 bilion , personal income is $400 bilion , personal taxes are $120 bilion…

A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…

Q: Explain the concept of the circular flow of the income in the economy.

A: The circular flow of the expenditure and the income in known as a procedure whereby the expenditure…

Q: If national income is $5,000 billion and disposable income is $4,000 billion, then what is personal…

A: Given: National Income (Y) = $5,000 billion Disposable income(Yd) = $4,000 billion We know,…

Q: efer to the accompanying national income data (in billions of dollars). Gross domestic product is…

A: 1090-11=1079 11-net exports(X-M) C+I+G 475+300+315=1090 GDP=1079 billion.

Q: What is meant by domestic income

A: Domestic income is one of broad measures of national income which is known with the name net…

Q: $Billions 475 Compensation of employees Proprietors' income Corporate profit Net interest 60 40 25…

A: Note: "Sorry", since you have posted multiple sub-parts of a question, I will do only first three…

Q: Explain income and wealth more evenly distributed

A: Income is the monetary remuneration that people in an economy earn in exchange for their economic…

Q: A. Calculate GDP by both the expenditures and the income approaches. B. Calculate NDP. C. Calculate…

A: As per guidelines, we will answer the first three subpart question.

Q: Draw a diagram showing circular flow of national income. Explain it in detail?

A: The circular flow of money explains how money and goods are circulated between the household sector…

Q: Calculate NNP at FC and personal income in the question below. GDP at FC 400 Income from domestic…

A: Use Below formula:NNP at FC = GDPFC-Depreciation +NFIANFIA = Net factor income from abroad

Q: Answer the question completely and correctly.  1. Critics charge that GNP is grossly inadequate in…

A: In economics, critics are the negative statements about a specific theory, concepts or findings by…

Q: Income Mexican citizens earn in the U.S. counts in Select one: a. Mexican GNP. O b. Mexican GDP. 01…

A: GNP refers to gross national product.

Q: A typical resident of the country of Collegia consumes a simple basket of goods, consisting of only…

A: The Consumer Price Index (CPI) is a tool to measure Inflation. It is measured on the basis of the…

Q: What is household consumption expenditure reflecting in terms of GDP of a country? What it indicates…

A:

Q: Why are the services of house wives not included in national income?

A: In macroeconomics, national income is a very simple definition of how much production our economy…

Q: Identify the part of the personal income which is actually available for consumption O a.…

A: Income is the money received by a person or a company in exchange for labor, the production of a…

Q: Identify the part of the personal income which is actually available for consumption a. Taxable…

A: Personal income: It means the total earnings of an individual.

Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200.

A: Given data: Saving is $1300 Income is %2200

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

A: National income is the basic concept of macro economics. It is the total income of all the services…

Q: What are the five components of national income?

A: The value of products and services generated by a country over the course of a fiscal year is…