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: What are government transfer payments? Are they included as part of the government spending…

A: In an economy, all the economic activities performed by the citizens that resulted in income value…

Q: Define the term Net Investment?

A: Investment: In economics, the term investment refers to the purchase of commodities that will be…

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: Define the term Net Income?

A: The monetary benefit or reward earned by an individual or business by producing goods or services,…

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: 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: 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: 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 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 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: 72. Which of the following expenditures would increase the consumption component of GDP?

A: Under the expenditure approach, GDP is equal to the total amount of money spent on personal…

Q: Can a borrower become a saver?

A: The borrower can become a saver which is explained through the intertemporal budget constraint. The…

Q: In Australia, in the year of 2014 the value of MPS was 0.61  What would have been the value of MPC…

A: The data presented in the above question is:- In the year of 2014, the MPS in Australia is 0.61  The…

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

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

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

A: National income is defined as the total value of final goods and services produced in an economy…

Q: What are some example possible reasons for a decline in the level of potential GDP?

A: Three reasons for a decline in the level of potential GDP is decrease in the population i.e. the…

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: An example of a stock variable is A. real GDP. B. consumption expenditure by households. C. gross…

A: Answer is given below

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: How much more output does the $20 trillion U.S economy produce when GDP increases by 1.0 percent?

A: Output – it the total amount of commodities or services produced in a particular time period.…

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: What is the relationship in the growth rate of output and government spending in the graph?

A: The relationship between the growth output and the government spending is such that a shock to the…

Q: Calculate the value of savings when it's given that:- National income = $1000 million MPS = 0.25…

A: We are given that:- National Income = $1000 million Marginal propensity to save is 0.25 Autonomous…

Q: Suppose that a country grows at an annual rate of G = 2%, imagine that at time "t" the country has…

A: Given Growth rate = 2 % Time = 10 years Income level after 10 years =Yt * (1 + growth rate)^time =…

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: Suppose GDP is $ 15 trillion, with $ 8 trillion coming from consumption, $ 2.5 trillion coming from…

A: The correct alternative for the aforementioned question is (C).

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: f the MPC IS 0.9 What should the government do to increase GDP by $4500?

A: The multiplier effect occurs due to an injection in the circular flow of income that increases…

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: 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 is the biggest spending component of GDP?

A: The monetary worth of all the goods and services generated in an economy over a specific period of…