If personal taxes are 400 billion and disposable income is 4,000 billion, then what does personal income equal?

Q: The table below provides Income and consumption Data in billions of dollars. Answer question below…

A: Here, the given table shows the consumption level at different income levels in an economy.

Q: If the government decreases taxes, disposable income does not change. falls. increases.…

A: personal disposable income is the part of personal income left after payment of direct taxes, it is…

Q: Here is what we know about a household: wages $25,000, unemployment insurance benefits $3,000,…

A: The expenditure way to deal with computing GDP (GDP) considers the amount of every last great and…

Q: What is real national income?

A: National Income: It is the total market value of all the final goods and services produced in the…

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: If the real GDP is 1000 and Investment is 150, Government Spending is 250 and Net Exports equals…

A: Consumption = 700

Q: Which component of GDP will increase if disposable income increases? a. Government spending b.…

A: Income of the people is the monetary value that is either spent or saved by the people.

Q: How do budget surpluses and budget deficits affect the consumption and investment components of GDP

A: The budget surplus is a situation where the revenue of government exceeds the spending of the…

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: Find a) Personal disposable income b) Personal income in the following question: Corporate tax 120…

A: Personal income is the total households income, which excludes the government income and corporate…

Q: What components of GDP tend to decline significantly during recessions (particularly during the 2008…

A: Recession is a temporary period of economic decline which leads to a fall in GDP for two successive…

Q: Explain how an increase in the interest rate can influence the level of GDP. (in 7 lines maximum). A…

A: Higher interest rate decreases AD because  Business investment will decline because it is less…

Q: When Britney Spears married one of her dancers, what effect might it have had on national income?…

A: National Income: National income is the monetary value of all goods and services produced in a…

Q: consider the following hypothetical economy. Consumption makes of 60% of national income,…

A: Given consumption is 60% of national income implies that C=0.6Y, where C is consumption and Y is…

Q: What is % of all the Investment in total GDP

A: GDP is measured using the formula = consumption + Investment+ Government expenditure - (Net Exports)…

Q: what will be the consumption expenditure when the income is 14330 million and the savings are 8100…

A: Generally in the question, Income is stated as = 14330 million Savings are usually denoted as = 8100…

Q: What is the net aggregate income?

A: The productivity of an economy is reflected from its aggregate income that represents the total…

Q: people typically pay more attention to their real income or their nominal income?

A: GDP is used to explain the overall economic welfare of a nation. It is used to calculate the…

Q: Briefly explain National Income; what it is? Briefly describe any of its three concepts.

A: Economics is a study which studies the human behavior of in using the scarce resources that have…

Q: What is Potential GDP and give an example?

A: Potential GDP is similar to normal GDP, but rather than only representing the final market value of…

Q: What is usually the smallest component of spending in GDP in Australia?   A) Consumption spending…

A: GDP( Gross Domestic Product)  GDP refers to the production level of an economy of a nation during a…

Q: What is the level of private consumption in GDP is 10,000, investment is 2,900, government spending…

A: The GDP is the value of all the final goods and services that are produced in an economy in a given…

Q: Explain why an economy's income must equal its expenditure.

A: The total expenditure refers to the total amount of money spent by the firm, individual or…

Q: Explain difference between GDP and GNP. Support your answer with simple examples from Oman economy.

A: GDP - Gross domestic product. GNP - Gross national product. Both are methods of national income…

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: If consumption expenditure is $30 billion, investment spending is $15 billion, government spending…

A: Consumption = $30 billion Investment = $15 billion Government spending = $12 billion Exports = $4…

Q: Given the following: consumption = 700, investment = 300, government expenditure = 150 and net…

A: The economy's GDP is calculated by the following formula, GDP = Consumption + Investment +…

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: From the given data calculate the investment expenditure 1) Equilibrium level of income = 5000 2)…

A:

Q: Discuss why many argue that GDP is not a good measure of economic well-being of society.

A: The gross domestic product (GDP) is the standard measure of value-added produced during a certain…

Q: Calculate income if consumption is $120 million and Savings is $66 million.

A: Given data: Consumption is $120 million. Saving is $66 million.

Q: measures?

A: GDP as a raw data analysis  in turn provides a good broad overview of the market economic activity…

Q: Which components of aggregate expenditure do not directly depend on current income?

A: Aggregate expenditure refers to the current value of all the final goods and services produced in an…

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

A: Given data: That part of income which is either consumed or saved by all the households in an…

Q: explain how total output and total income are related to each other, and why they are related

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Types of Circular Flow of Income in Economics

A: In an economy, the circular flow refers to the never-ending flow of goods and services produced and…

Q: Calculate income if consumption is $120 million and Savings is $66 million

A: The information being provided to us is as follows:- Consumption = $120 million Saving = $66 million…

Q: Explain the three approaches to national income?

A: According to the given question National income is also known as a national product which is a…

Q: Would a temporary investment tax credit for businesses or a temporary income tax cut for individuals…

A: Temporary income tax cut would influence GDP greatly.

Q: Briefly describe the demirits of state enterprise in the field of national income?

A:

Q: In Macroeconomics, why does total income have to equal total output?

A: A way of measuring the economic wellbeing of a nation, the GDP is the amalgamation of all the values…

Q: In an hypothetical Economy, the consumption function is:- C = 100 + 0.3Y Calculate the value of…

A: According to the above given question, the consumption expenditure is given as:- C = 100 + 0.3Y We…

Q: Why GDP can be computed either by measuring spending or by measuring income. Briefly explain

A: GDP is the aggregation of services and goods produced in the country at the given time period. Three…

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…