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ki77a [65]
3 years ago
14

In a small, closed economy, national income (GDP) is $ 500.00 million for the current month. Individuals have spent $ 300.00 mil

lion on the consumption of goods and services. They have paid a total of $ 200.00 million in taxes, and the government has spent $ 150.00 million on goods and services this month. Use this information and the national income identity to answer the questions. How much is spent on investment in this economy?
Business
1 answer:
alexdok [17]3 years ago
4 0

Answer:

The total investment in the economy is $50 million

Explanation:

The following equation is used to calculate the GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports)

Using this formula we can determine the amount of investment.

Investment = 500 (GDP) - 300 (private consumption) - 150 (government spending) = $50.

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