ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Calculate the following
Consumption = ?
Suppose GDP is $8 trillion, taxes are $1.5 trillion, private saving is $0.5 trillion, and public saving is
$0.2 trillion.
Expert Solution
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Step 1
Introduction:
Consumption is the amount that can be calculated by subtracting the taxes, and private savings from the gross domestic product.
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