Suppose GDP is 15 trillion dollars, with:

- 8 trillion dollars from consumption
- 2.5 trillion dollars from gross investment
- 3.5 trillion dollars from government expenditures
- 1 trillion dollars from net exports

Also, suppose that personal income across the whole economy is 12 trillion dollars. If the government collects 1.5 trillion dollars in personal taxes, then disposable income will be:

1) 13.5 trillion dollars
2) 12.0 trillion dollars
3) 10.5 trillion dollars
4) None of the above

Question

06-08-2024
Business

High School

Thank you for visiting Suppose GDP is 15 trillion dollars with 8 trillion dollars from consumption 2 5 trillion dollars from gross investment 3 5 trillion dollars from government. 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!

Suppose GDP is 15 trillion dollars, with:

- 8 trillion dollars from consumption
- 2.5 trillion dollars from gross investment
- 3.5 trillion dollars from government expenditures
- 1 trillion dollars from net exports

Also, suppose that personal income across the whole economy is 12 trillion dollars. If the government collects 1.5 trillion dollars in personal taxes, then disposable income will be:

1) 13.5 trillion dollars
2) 12.0 trillion dollars
3) 10.5 trillion dollars
4) None of the above

Answer :

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afreenmajid123 afreenmajid123 · Answer 1 · 2024-10-18T12:06:13-04:00

Final answer:

The correct answer is 3) 10.5 trillion dollars. Disposable income is calculated by subtracting personal taxes from personal income. In this case, it is 12 trillion dollars minus 1.5 trillion dollars, resulting in a disposable income of 10.5 trillion dollars.

Explanation:

The correct answer is 3) 10.5 trillion dollars. The student's question pertains to calculating disposable income given certain economic data. To clarify, disposable income refers to the personal income that households have left after paying personal taxes. In this scenario, the economy has a personal income of 12 trillion dollars, and the government collects 1.5 trillion dollars in personal taxes. Therefore, the disposable income can be calculated by subtracting the taxes from the personal income.

Disposable income = Personal income - Personal taxes.

Disposable income = 12 trillion dollars - 1.5 trillion dollars.

Disposable income = 10.5 trillion dollars.