Homework Answers
National income is the value of total goods and services produced in the economy, It is the value of goods and services produced at a given time period and it only include the value of the finished goods in that time period. For example, if total value of all the goods and services produced within the boundary of nation is $1000 then national income will be $1000.
Personal income is the income earned by an individual, It can be in form of wages, or rent, or profit or interest. For example, John work in the farm and gets a daily wage of $50. $50 is his personal income.
Disposable income is the personal income subtracted by tax. For example, john pay a tax of $5 then his personal income is $50 but disposable income is $45. That is the income he get to spend.
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From your reading answer the following What is National Income, Personal Income, and Disposable Income? Define...
Which of the following National income accounting measure is the largest? A-Personal income B-Net Domestic Product...
Which of the following National income accounting measure is the largest? A-Personal income B-Net Domestic Product C-Disposable Income D- National Income E-Gross Domestic Product
Collabon Short-Answer, Essays, and Problems 1. What are the relationships among consumption, saving, and disposable income?...
Collabon Short-Answer, Essays, and Problems 1. What are the relationships among consumption, saving, and disposable income? 2. Define the consumption schedule. 3. Describe the saving schedule. 4. Explain how consumption and saving are related to disposable income in the aggregate expenditures model. 5. Fill in the table below. Describe your result. Disposable Income Consumptio Saving $200 $210 $ $220 $230 $10 $260 $20 $280 $300 6. Complete the following table assuming that (a) MPS - 1/5, (b) there is no...
Define System-1 and System-2 thinking in your own words. Give an example from your personal or...
Define System-1 and System-2 thinking in your own words. Give an example from your personal or work life where you would use each of them, explaining why each is appropriate to the situation in which you use it. Heuristics Define "heuristic" in your own words. Give an example of a heuristic might be used in your personal or professional life and briefly show how it could have a positive or negative effect. Do not use examples found in the text....
How to calculate personal savings. NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3:...
How to calculate personal savings.
NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3: Consumption Expenditures Wages Rent Interest Income Corporate Profits Proprietors' Income Farm Income Personal Income Personal Taxes $8,000 billion $7,000 billion S 150 billion S 500 billion S 500 billion S 800 billion $ 150 billion $9,000 billion $900 billion d. 9,900 bi1lion 3. Personal saving is equal to a. $1,000 billion b. $900 billion c. $100 billion d. $50 billion 4. Disposable income is...
Address the following questions: How did the trend to omit carbohydrates from the diet come about?...
Address the following questions: How did the trend to omit carbohydrates from the diet come about? 2 What is the health effects of carbohydrate restricted omitted diets? Are you a carbophobe? erences aborations Unread Search entries or author tfolium onfer Zoom Reply NetTutor Replies are only visible to those who have posted at least one reply Chat WWWB Collaborations Office 365 e o
Please answer the following question(s): You will need to perform research to answer one of the...
Please answer the following question(s): You will need to perform research to answer one of the following questions. You must cite at least two sources. 1. Describe the procedures for correcting errors in accounting records. Provide an example. 2. How is the trial balance used to discover errors? Provide an example. 3. How would you find errors in recording transactions and what is the process to correct errors? Provide an example. Search entries or author Unread Reply Replies are only...
Suppose you are given the following information about some hypothetical economy and its national income accounts....
Suppose you are given the following information about some hypothetical economy and its national income accounts. Use this information to answer the questions that follow (Amounts are in billions of dollars) Indirect Business Taxes $919.0 Corporate Profits $1208.9 Corporate Profits Taxes $469.4 Retained Earnings $330.8 Proprietor’s Income $1038.4 Rental Income $62.1 Net Interests $1171.1 Exports $1685.7 Imports $2380.4 Income Receipts from rest of world $855.6 Income Payments to rest of world $754.9 Net National Product $12380.8 Government expenditures for Goods...
Part II: Higher personal taxes in the U.S. will affect personal disposable income which in turn...
Part II: Higher personal taxes in the U.S. will affect personal disposable income which in turn will affect the domestic demand for goods and services. Costs of production and inputs however continue declining. What do you expect the U.S. output and prices in the near future. Assume we are moving from the old equilibrium to a new equilibrium. Please state clearly your assumptions and include a graph to support your answer.
due Jul 27 This is a graded discussion: 10 points possible 48 48 Week 13: Discussion...
due Jul 27 This is a graded discussion: 10 points possible 48 48 Week 13: Discussion This week, the chapter you will be reading is on internet use. Social media and the internet in general have become a problem in healthcare organizations today. For this week's discussion board, you are going to construct an employee policy on cell phone use, social media, and personal activity on the internet. Most healthcare organizations have strict policies prohibiting employees from these activities when...
Collabon Short-Answer, Essays, and Problems 1. What are the relationships among consumption, saving, and disposable income? 2. Define the consumption schedule. 3. Describe the saving schedule. 4. Explain how consumption and saving are related to disposable income in the aggregate expenditures model. 5. Fill in the table below. Describe your result. Disposable Income Consumptio Saving $200 $210 $ $220 $230 $10 $260 $20 $280 $300 6. Complete the following table assuming that (a) MPS - 1/5, (b) there is no...
How to calculate personal savings.
NATIONAL INCOME ACCOUNTS Use the data below to answer questions 1-3: Consumption Expenditures Wages Rent Interest Income Corporate Profits Proprietors' Income Farm Income Personal Income Personal Taxes $8,000 billion $7,000 billion S 150 billion S 500 billion S 500 billion S 800 billion $ 150 billion $9,000 billion $900 billion d. 9,900 bi1lion 3. Personal saving is equal to a. $1,000 billion b. $900 billion c. $100 billion d. $50 billion 4. Disposable income is...
Address the following questions: How did the trend to omit carbohydrates from the diet come about? 2 What is the health effects of carbohydrate restricted omitted diets? Are you a carbophobe? erences aborations Unread Search entries or author tfolium onfer Zoom Reply NetTutor Replies are only visible to those who have posted at least one reply Chat WWWB Collaborations Office 365 e o
Please answer the following question(s): You will need to perform research to answer one of the following questions. You must cite at least two sources. 1. Describe the procedures for correcting errors in accounting records. Provide an example. 2. How is the trial balance used to discover errors? Provide an example. 3. How would you find errors in recording transactions and what is the process to correct errors? Provide an example. Search entries or author Unread Reply Replies are only...
due Jul 27 This is a graded discussion: 10 points possible 48 48 Week 13: Discussion This week, the chapter you will be reading is on internet use. Social media and the internet in general have become a problem in healthcare organizations today. For this week's discussion board, you are going to construct an employee policy on cell phone use, social media, and personal activity on the internet. Most healthcare organizations have strict policies prohibiting employees from these activities when...
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