2. 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 $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�)   Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675   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)National Saving (�)  =  =  G - TG - T       =  =  I�          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. Private SavingPrivate Saving  =  =          =  =    million    Public SavingPublic Saving  =  =          =  =    million    Based on your calculations, the government is running a budget    .

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