Question

You are single and claim 1 allowance. You presently earn $520.00 per week. Starting next week you will receive a 5% increase in pay and will earn $546.00. How much more will you have withheld from your weekly pay for federal income tax? (Include steps, along with the answer please).

Answer 1

Y=C+I+G+(X-M)

y=national income

c=consumer spending

I=investment

g=government spending

x-exports

m=imports