Suppose GDP is $15 trillion, with $8 trillion coming from consumption, $2.5 trillion coming from gross investment,

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$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 is:

a. $13.5 trillion

b. $12.0 trillion

c. $10.5 trillion

d. none of the above

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Macroeconomics

ISBN: 9781264112456

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Mar 01, 2024 08:02 AM

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Suppose GDP is $15 trillion, with $8 trillion coming from consumption, $2.5 trillion coming from gross investment,

Question:

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Macroeconomics

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