answer this 2&6 2. Consider a closed economy. If national saving is 1000, GDP is 6000, andconsumption is 4500. Further assume that the government has a deficit of 400. Iftransfer and net interest payment is 400, the tax revenue issaving isand private saving isfall by_Suppose the government spending decreases by 40, output will6. Suppose that investment is fixed, as in Chapter 3. The paradox of saving suggests_(increase?that an increase in the desire to save will GDP tocausedecrease?)

We use the following formulas to get answers: Government deficit = Government expenditure -…

Answered: 6. Suppose that investment is fixed, as…

6. Suppose that investment is fixed, as in Chapter 3. The paradox of saving suggests (increase? that an increase in the desire to save will cause GDP to decrease?)

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

answer this 2&6

2. Consider a closed economy. If national saving is 1000, GDP is 6000, and
consumption is 4500. Further assume that the government has a deficit of 400. If
transfer and net interest payment is 400, the tax revenue is
saving is
and private

saving is
fall by_
Suppose the government spending decreases by 40, output will
6. Suppose that investment is fixed, as in Chapter 3. The paradox of saving suggests
_(increase?
that an increase in the desire to save will GDP to
cause
decrease?)

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