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1. Saving and investment in the national income accounts The following table contains data for a hypothetical dosed economy that uses the dollar as its currency. Suppose GDP in this country is $1,250 million. Enter the amount for investment. Value National Income Account (Millions of dollars) Government Purchases (G) 250 Taxes minus Transfer Payments (T) з00 Consumption (C) 625 Investment (I) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. Y-T-G National Saving (S) G -T million Y-C-G Y Y-C G Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private Saving million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Y-T-I Private Saving C-T million C-T T-G Y-C-T Y-C-T Y-T-I T-G Public Saving million deficit surplus Based on your calculations, the government is running a budget

1. Saving and investment in the national income accounts The following table contains data for a hypothetical dosed economy that uses the dollar as its currency. Suppose GDP in this country is $1,250 million. Enter the amount for investment. Value National Income Account (Millions of dollars) Government Purchases (G) 250 Taxes minus Transfer Payments (T) з00 Consumption (C) 625 Investment (I) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. Y-T-G National Saving (S) G -T million Y-C-G Y Y-C G Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private Saving million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Y-T-I Private Saving C-T million C-T T-G Y-C-T Y-C-T Y-T-I T-G Public Saving million deficit surplus Based on your calculations, the government is running a budget

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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# 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. ## National Income Account Suppose GDP in this country is $1,250 million. Enter the amount for investment. | National Income Account | Value (Millions of dollars) | |-----------------------------|-----------------------------| | Government Purchases (G) | 250 | | Taxes minus Transfer Payments (T) | 300 | | Consumption (C) | 625 | | Investment (I) | \_\_\_\_ (yellow highlighted box) | ## National Saving Calculation 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) =** - Formula Options: - \( Y - T - G \) - \( G - T \) - \( Y - C - G \) - \( Y - C \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) ## Private and Public Saving Calculation Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. **Private Saving =** - Formula Options: - \( Y - T - C \) - \( C - T \) - \( T - G \) - \( Y - C - T \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) **Public Saving =** - Formula Options: - \( T - G \) - \( C - T \) - \( Y - T - I \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) Based on your calculations, the government is running a **deficit/surplus** (yellow highlighted box). ### Diagram Explanation The diagram presents a structured approach to calculating national, private, and public savings using data provided for a national income account. With highlighted options and amounts, it guides the user through selecting the appropriate formula for each type of saving.
Transcribed Image Text:# 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. ## National Income Account Suppose GDP in this country is $1,250 million. Enter the amount for investment. | National Income Account | Value (Millions of dollars) | |-----------------------------|-----------------------------| | Government Purchases (G) | 250 | | Taxes minus Transfer Payments (T) | 300 | | Consumption (C) | 625 | | Investment (I) | \_\_\_\_ (yellow highlighted box) | ## National Saving Calculation 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) =** - Formula Options: - \( Y - T - G \) - \( G - T \) - \( Y - C - G \) - \( Y - C \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) ## Private and Public Saving Calculation Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. **Private Saving =** - Formula Options: - \( Y - T - C \) - \( C - T \) - \( T - G \) - \( Y - C - T \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) **Public Saving =** - Formula Options: - \( T - G \) - \( C - T \) - \( Y - T - I \) - Calculation: - Amount: \_\_\_\_ million (yellow highlighted) Based on your calculations, the government is running a **deficit/surplus** (yellow highlighted box). ### Diagram Explanation The diagram presents a structured approach to calculating national, private, and public savings using data provided for a national income account. With highlighted options and amounts, it guides the user through selecting the appropriate formula for each type of saving.
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