
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 10
Suppose GDP is $15 trillion, with $8 trillion coming from consumption, $2.5 trillion coming from gross investment, $3.5 trillion coming from government expenditures, and $1 trillion coming from net exports. Also suppose that across the whole economy, personal income is $12 trillion. If the government collects $1.5 trillion in personal taxes, then disposable income will be:
A) $13.5 trillion.
B) $12.0 trillion.
C) $10.5 trillion.
D) None of the above.
A) $13.5 trillion.
B) $12.0 trillion.
C) $10.5 trillion.
D) None of the above.
Explanation
Use the formula for disposable income to...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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