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

🧐 Not the exact question you are looking for?Go ask a question

Solution 1

Break Down the Problem

  1. Understand the relationship between income, consumption, and savings in an economy.
  2. Identify the formula to calculate savings.

Relevant Concepts

Savings can be calculated using the formula:

Savings=IncomeConsumption \text{Savings} = \text{Income} - \text{Consumption}

Analys

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

This problem has been solved

Similar Questions

A man spends 80% of his income and saves the rest. what percentage of his expenditure does he save ?a.40b.25c.20d.30

Raj always saves 65% of his salary. If his salary decreases by 40% , his savings will decrease by $390. How much is Raj's original salary?

Charlottehas$50inasavingsaccount.Theinterestrateis10%peryearandisnotcompounded.Howmuchwillshehaveintotalin5years?

Jafar, Mahmud and Rihan have saved an average amount of $s. Jafar has 47 of Mahmud's savings. If Jafar has $188, how much has Rihan's saved?

Use the figure to answer the question.  The income expenditure multiplier equalsGroup of answer choices0.5624

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.