6. Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500. What are private saving and public saving? a. 1,500 and -500, respectively b. 1,500 and 500, respectively c. 1,000 and -500, respectively d. 1,000 and 500, respectively ANSWER:

6. Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500. What are private saving and public saving? a. 1,500 and -500, respectively b. 1,500 and 500, respectively c. 1,000 and -500, respectively d. 1,000 and 500, respectively ANSWER:

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Savings,investment And The Financial System

Section: Chapter Questions

Problem 2CQQ

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34. The table below shows aggregate values for a hypothetical economy. Suppose this economy has real GDP equal to potential output. Potential GDP $14 000 Government purchases $2100 Investment $300 Consumption $10 000 Net tax revenues $2000 TABLE 25-3Refer to Table 25-3. What is the level of public saving for this economy? -$100 $200 $300 -$200 $500
pls also do the graph
25. Suppose that in a closed economy GDP is 10,000, consumption is 6500, and taxes are 2000. What value of government expenditures would make national saving equal 1000? OA. 2500 B. 3500 C. 7500 D. 9000
Please help with this from c . Please make it make sense because I have seen answers that dont seem right. I would like graph of C as well showing the shifts and changesConsider an economy described by the following equations:Y=C + I +GY=7,000G=4000T=2,000C=150+0.75(Y-T)I=1,000-50ra. In this economy, compute private saving, public saving and national saving.b. Calculate the equilibrium interest rate.c. Now suppose the G rises by 1,000. Compute private saving, public saving, andnational saving.d. Calculate the new equilibrium interest rate.
5. The table below shows aggregate values for a hypothetical economy. Suppose this economy has real GDP equal to potential output. Potential GDP $14 000 Government purchases $2100 Investment $300 Consumption $10 000 Net tax revenues $2000 TABLE 25-3Refer to Table 25-3. What is the level of private saving for this economy? $2000 $500 $50 $3000 $100
The table below shows aggregate values for a hypothetical economy. Suppose this economy has real GDP equal to potential output. Potential GDP $14 000 Government purchases $2100 Investment $300 Consumption $10 000 Net tax revenues $2000 Refering to the table above, what is th eprivate saving for this economy?
Ifthe government collects more in tax revenue than it spends, and households consume more than they get in after-tax income,then a.private and public saving are both positive. b.private and public saving are both negative. c.privatesaving is positive,but public saving is negative. d.private saving is negative,but public saving is positive.
Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500. What are private saving and public saving? 1,500 and -500, respectively 1,500 and 500, respectively 1,000 and -500, respectively 1,000 and 50O, respectively
10. Work It Out. Consider an economy described as follows: Y = = Y G T 1 1 Cam C = I C+I+G 8,000 2,500 2,000 1000+2/3 (Y - T) 1,200 100 r. a. In this economy, compute private saving, public saving, and national saving. b. Find the equilibrium interest rate. c. Now suppose that G is reduced by 500. Compute private saving, public saving, and national saving. d. Find the new equilibrium interest rate.
8) government budget surplus from reduced government spending will ________ thelevel of investment in the economy and ________ the level of public saving in theeconomy.A) increase; decreaseB) increase; increase C) decrease; increaseD) decrease; decrease
If the government collects more in tax revenue thanit spends, and households consume more than theyget in after-tax income, thena. private saving and public saving are both positive.b. private saving and public saving are bothnegative.c. private saving is positive, but public saving isnegative.d. private saving is negative, but public saving ispositive.
For a closed economy, GDP is $10, consumption is $8, taxes are $1, and the buget deficit is $1, What are private saving and national saving? a. $2 and $1 O b. $1 and $2 O c. $1 and $0 O d. $1 and $1