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

Q: Given the following: Ca = $450, Ig = $250, Xn = − $10, and G = $30, what is the economy’s…

A: Equilibrium GDP is given by the aggregate of Consumption, Investment, Government Expenditure.

Q: a) Elucidate how an economy’s income must always equal its expenditure.

A: Hi, thanks for the question. As per the guidelines we are allowed to attempt to the first question.…

Q: How national income can be measured in economics? Explain briefly:

A:

Q: How has government expenditure in France throughout the period for which data is available in the…

A: The gross domestic expenditure of France is showing a downtrend.  The gross domestic expenditure was…

Q: When opening a print shop you need to buy printers, computers, furniture, and similar items,…

A: Since you posted multiple questions, The answer to the first question is provided. If you want any…

Q: Give an example of something that would increase GDP but would be considered undesirable and explain…

A: An increase in GDP could raise people's living standards and improve their quality of life. GDP is a…

Q: The table below gives date about the economy of countryX, answer the question below given the…

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

Q: Given the following: Ca = $500, Ig = $250, Xn = − $10, and G = $30, what is the economy’s…

A: Consumption = $500 Investment = $250  Net export = -$10 Government expenditure = $30

Q: If personal taxes are $400 billion and disposable income is $4,000 billion, then what does personal…

A: Hi, thanks for the question. As per the guidelines we are allowed to attempt the first question. If…

Q: YAt right is a simplified circular-flow diagram for the economy of Micronia. (Note that there is no…

A: We are going to find the disposable income, Gross domestic product to answer this question.

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: 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: Distinguish between nominal GDP and real GDP?

A: Generally, there are two types of GDP: 1. Nominal GDP 2. Real GDP

Q: Elucidate how an economy’s income must always equal its expenditure.

A: Elucidate how an economy’s income must always equal its expenditure. There are two national income…

Q: a. Using the above data, determine GDP by both the expenditures approach and the income approach.…

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

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 be an impact on economy by achieving GDP?

A: GDP is the monetary value of all the goods and services produced by an economy in a particular year.…

Q: Which is better for making comparisons over time, nominal GDP or real GDP, and why?

A: The measure that depicts the final values of production of services and goods within a certain time…

Q: product, income and expenditure

A: GDP (Gross Domestic Product): It refers to the goods and services which are produced in an economy…

Q: The figure shows the flows of expenditure and income in an economy. In 2013, Uwas $1.0 trillion,…

A: We are given that U (G) = 1 trillion (Government spending)  V = 2.5 trillion ( Private Saving) W or…

Q: Explain why an economy’s income must equal itsexpenditure

A: The economy refers to the region where the consumption, production and allocation of goods and…

Q: Explain why an economy’s output, in essence, is also its income.

A: ANS In an economy, all the goods that are produced are sold. Also, it should be noted that whatever…

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: What are the components of Gross Domestic Product (GDP)? Give the one-letter symbol and what it…

A: Gross Domestic Product (GDP) refers to the total amount of goods and services produced and sold in…

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: How would a person buying shares of common stock and paying a commission affect are countries GDP in…

A: Gross domestic product of a country is the market value of all final commodities and services that…

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: A) Elucidate how an economy’s income must always equal its expenditure

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: (d) Assume a 16 year old named William Gates writes a computer program in his garage. The software…

A: Gross domestic product is the total value of goods and services that are produced in the economy in…

Q: You purchase a Tesla Model 3. What is the impact to the different components of the U.S. GDP and the…

A: GDP is the gross domestic product which is the final value of goods and services that are produced…

Q: Which of the following increases as a result of an increase in real GDP? i. autonomous expenditure…

A: Answer is given below

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: 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: What is the role of government in the circular flow of income and expenditure?

A: The circular flow of income model is the demonstration of the movement of money through society.…

Q: a) GDP captures all income created in the economy, GDP also captures all expenditures made in the…

A: GDP means total market value of goods and services produced domestically.

Q: Given the following, Ca = $500, Ig = $250, Xn = − $10, and G = $30, what is the economy’s…

A: GDP = Consumption + Investment + Government expenditure + net export

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: E is the equilibrium level of real GDP? rium GDP = 0 %3D

A: *Answer:

Q: What impact would each of following have in on real gdp ?would economic well being increase or…

A: Answer: (A). If the average, people in a country decide to increase the number of hours they work by…

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: 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: with the aid of a diagram, explain the income and expenditure model

A: The income and expenditure model is a Keynesian cross model that shows the equilibrium condition of…

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…