If income is 4,800, consumption is 3,500, government spending is 1,000, and tax revenues are 800, private saving is:

Name: If income is 4,800, consumption is 3,500, government spending is 1,000, and tax revenues are 800, private saving is:
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Private saving is the amount of income that is not consumed, and not paid as taxes or spent by the government. So, private saving = Income - Consumption - Government spending - Tax revenues = 4,800 - 3,500 - 1,000 - 800 = 500. Therefore, the answer is choice B.

If Income Is 4,800, Consumption Is 3,500, Government Spending Is