Question

Suppose that an economy consists of only two individuals. Leland has $1950 available to spend on goods. He decides to purchase $370 worth of produce from Charlotte in the current month. No other economic activity takes place during the current month. Using this information, answer the questions. For the current month, what is the economy's income

Answer 1

$370

Step-by-step explanation:

The computation of the economy income as follows:

Since Leland decided to buy the worth of produce in the present month for $370

So for the present month or the current month, the economy income is $370

Therefore the same would be considered also the single transaction is taken place in the current month