.Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $800 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (1) Value (Millions of dollars) 260 300 300 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) = million

.Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $800 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (1) Value (Millions of dollars) 260 300 300 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) = million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 2 NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 02. Based on this table, the Net Domestic Product is $ Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 QUESTION 3 billion. NATIONAL INCOME DATA (in current prices) 1992 III Personal consumption expenditures Gross private domestic investment Government purchases of goods and services 03. Based on this table, the Net Exports figure is $ (in billions of dollars) 4,105.0 776.9 1,122.5 626.8 664.2 697.3 billion. (in billions of dollars) Exports Imports Capital consumption allowance (depreciation) Source: Survey of Current Business, Vol. 72, Number 10, (October 1992), p. 8, 10 4,105.0 776.9 1,122.5 626.8 664.2 697.3