Thank you for visiting Based on the following statistics how much is consumption Total spending 11 62 trillion Investment 2 56 trillion Government spending 2 95 trillion Exports 1. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Based on the given statistics, consumption can be calculated by subtracting investment, government spending, exports, and imports from total spending. the consumption amount is $6.49 trillion.
Consumption = Total spending - Investment - Government spending - Exports + Imports
Consumption = $11.62 trillion - $2.56 trillion - $2.95 trillion - $1.80 trillion + $2.18 trillion
Consumption = $6.49 trillion
Therefore, the consumption amount is $6.49 trillion.
the consumption amount is $6.49 trillion. represents the total spending on goods and services by households, businesses, and the government within an economy. It is a key component of the aggregate demand, which measures the total spending in the economy.
In this case, we start with the total spending of $11.62 trillion, which includes various components such as investment, government spending, exports, and imports. To calculate consumption, we need to subtract these components from the total spending.
Investment, government spending, exports, and imports are considered to be leakage or withdrawals from the circular flow of income, as they represent spending that is directed outside of the domestic economy. By subtracting these components, we are left with the remaining amount, which represents the consumption expenditure.
In this particular scenario, after subtracting investment, government spending, exports, and imports from the total spending, we find that the consumption amount is $6.49 trillion. This indicates the total spending on goods and services by households, businesses, and the government within the economy.
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Thank you for reading the article Based on the following statistics how much is consumption Total spending 11 62 trillion Investment 2 56 trillion Government spending 2 95 trillion Exports 1. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
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