Knowee
Questions
Features
Study Tools

If income in a closed, private economy is $50 and consumption is $35, what is the amount of savings?Multiple choice question.$15$85$35$50

Question

If income in a closed, private economy is $50 and consumption is $35, what is the amount of savings?Multiple choice question.$15$85$35$50
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

In a closed, private economy, savings is calculated as the difference between income and consumption.

Here, the income is 50andconsumptionis50 and consumption is 35.

So, Savings = Income - Consumption = 5050 - 35 = $15

So, the amount of savings is $15. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to

d to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to

This problem has been solved

Similar Questions

National output: $200000,Taxes: $10000,Consumption: $6000,Government Expenditures: $2000,Find Private Savings and Public Savings

The difference between Private Income and Personal Income is ..(a) Corporate tax(b) Dividend(c) Corporate savings(d) Corporate tax and corporate savings

Tropicana is a closed economy, described by the following equations:Solve for the following values.a. Private saving

Consider a closed economy:(1) C = 200 + 0.4 (Y-T)(2) I =300(3) G = 400(4) T = 300What is consumption of equilibrium?

Consider a closed economy with national saving of $2 trillion, consumption of $16 trillion, and government purchases of $5 trillion. What the economy's is GDP?

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.