Question

Given the values in the table, and assuming transfer payments = 0, compute the value of private saving.   Private saving  = $_____________ trillion. (Round to one decimal place.) Thank you!

QUESTION 3 Trillions of dollars GDP Consumption Government spending Exports Imports Budget balance Given the values in the table, and assuming transfer payments = 0, compute the value of private saving. Private saving = $ decimal place.) trillion. (Round to one QUESTION 4 Trillions of dollars GDP. GD Emotion .... $139 Consumption... Government spending. Exports Imports Budget balance What is the value of national savings for the hypothetical economy whose data is given in the table? National Savings = $_ decimal place.) trillion. ( Round to one

Answer 1

Budget balance = T - G

-1.2 = T - 3

Thus, tax revenue (T) = $1.8 trillion

3.

Private saving = Y - C - T

Private saving = 15.9 - 11.3 - 1.8

Private saving = $2.8 trillion

4.

National saving = Y - C - G

National saving = 15.9 - 11.3 - 3

National saving = $1.6 trillion