If household spend $105 billion on goods and $95 billion on services. How much in revenues do businesses receive in the product market?

Q: why is there a trade off between amount of consumption that people can enjoy today and the amount of…

A: Scarcity, limited resources and unlimited wants are the reason for the tradeoffs between current and…

Q: What is the relationship between income and consumption?

A: The income is the money wage earned by the individual for providing the service of the labor in the…

Q: ‌Explain‌ ‌the‌ ‌difference‌ ‌between‌ ‌GDP‌ ‌and‌ ‌GNP‌ ‌with‌ ‌an‌ ‌example.‌ ‌    ‌ (b)‌Table‌…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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: New U.S. home sales surged Purchases of new U.S. homes surged in December and 2015 was the best year…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: item billions of dollar  consumption ependiture 6258 investment 1623 government expenditure on goods…

A: Gross domestic product is the market value of all goods and services produced within a country in a…

Q: That part of income which is either consumed or saved by all the households in an economy is called…

A: Savings refer to the part of income set aside to use in the future. Consumption spending refers to…

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: Smith consumes all his income. Draw his consumption and saving schedule.

A: Consumption and saving The use of products and  the services by households is referred to as…

Q: Circular flow of income. Explain: 1. Household 2. Leakages. 3. MPC

A: The circular flow of income, also known as circular flow, is an economic model in which important…

Q: A healthy economy that is working properly is called

A: full work as an economy in which the joblessness rate approaches the nonaccelerating expansion pace…

Q: how to find gross investment in the economy? is it correct if i add Net investment to Capital…

A: Investment: The term investment refers to the increase in the stock of capital. Here, capital is…

Q: In the circular flow of expenditure and income, Select one: a. households are sellers and firms are…

A: We know that in the circular flow of expenditure and income a household are sellers and the firms…

Q: hoose the letter of the correct answer. The value for PERSONAL INCOME is  a. 391 b. 392 c. 393 d.…

A: Gross Domestic Product (GDP) is the value of final goods and services produced in the domestic…

Q: Households use money on which of the following ways?  A) wages, saving, spending B) Public Goods…

A: Households use money on different ways.

Q: asks the question "Consumer Lifetime Value (CLV) does it affect the value we put on consumption ?"

A: Customer lifetime value (CLV) is the sum of a customer's value to a company over the course of their…

Q: If households spend $80 billion on goods and $70 billion on services, how much in revenues do…

A: There are two types of market: Product market and Money market. The product market is also called…

Q: Are these purchases included in the calculation of gross domestic product? Explain your answer.

A: GDP includes market value of all final goods and services produced in an economy in a particular…

Q: What is the relationship between Consumption and Savings What are the factors that determine the…

A: Consumption defined as the consumer spending on goods and services incurred by individuals or…

Q: Which curve is drawn at 45 degree to show income and consumption re

A: A line or curve making an angle of 45 degree and shooting from the origin is drawn as a line of…

Q: See attached image.         Identify the value of savings in the economy What is the value of…

A: Circular flow of income describes the flow of income among the sectors. The sectors of the economy…

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: Investment (I) includes: O the amount spent on new factories and machinery. the amount spent on…

A: Investment can be defined as any asset acquired or money committed for the purpose of earning future…

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: 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 in an economy the quantity is 20 units and the price of the product is $52 find the income?

A: As per the question, Quantity is = 20 units Price is given as = $52 Income needed = ?

Q: The change in consumption is $300 and change in income is $1000 Find the value of MPC

A: The marginal propensity to consume (MPC) measures the proportion of a unit of the consumer's income…

Q: Identify where the appropriate entries go on the circular flow diagram?

A: Concept We must obtain a thorough understanding of how the market system works because practically…

Q: Is the purchase of equipment or machinery a part of consumption or investment? Why?

A: The concept of allocation of money with having an expectation in the future of a positive return or…

Q: Why is it important to follow the FIFO in doing and INVENTORY?

A: Both the raw materials utilised in manufacturing and the final commodities that are ready for sale…

Q: How do households spend in economy?

A: The concept that depicts spending money in order to carry out various transactions in an economy is…

Q: What component of the GDP (Gross Domestic Product) would you classify a product or service Microsoft…

A: Gross domestic product", or GDP, is the total value of all finished services and goods generated…

Q: Use the information below Consumer spending = $200 million Capital Consumption Allowance = $80…

A: The GDP (gross domestic product) is calculated using either the expenditure approach or the resource…

Q: I percent. It follows that Select one: O a. the dollar value of savings increased at 2 percent, and…

A: Inflation is the rate at which the value of a currency is falling and, consequently, the general…

Q: Define economy

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: Calculate the value of APS if savings is $990 and income is $2100

A: The information we have is as follows:- Savings = $990 Income = $2100 We have to calculate the value…

Q: If consumption expenditure is $3100 and savings is $1800 Calculate income

A: According to the above mentioned question, we have:- Consumption expenditure = $3100 Savings = $1800…

Q: Explain the relationship between output and income for both an individual and an entire economy.

A: To understand the relationship beween output and income for an individual and the whole economy, we…

Q: Calculate the value of consumption if APC is 0.31 and income is $4499.

A: Given data: Average propensity to consume, APC=0.31 Income is $4499.

Q: a. For 2018, 2019, and 2020, determine the amount that a typical consumer pays each year to purchase…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: what do you mean by CIRCULAR FLOW OF GOODS AND INCOME AMONG PRODUCERS AND HOUSEHOLDS

A: circular flow model  Lets understand this concept with an example:- In this circular flow model…

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: Change in savings is $2000 and change in income is $4300 Calculate MPS

A: The information being given is:- Change in Savings = $2000 Change in income = $4300 We have to…