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 Public Saving = million Based on your calculations, the government is running a budget

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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
Public Saving =
million
Based on your calculations, the government is running a budget
Transcribed Image Text: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 Public Saving = million Based on your calculations, the government is running a budget
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 $1,230 million. Enter the amount for consumption.
Value
National Income Account
(Millions of dollars)
Government Purchases (G)
300
Taxes minus Transfer Payments (T)
210
Consumption (C)
Investment (I)
330
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) =
%3D
24
million
Transcribed Image Text: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 $1,230 million. Enter the amount for consumption. Value National Income Account (Millions of dollars) Government Purchases (G) 300 Taxes minus Transfer Payments (T) 210 Consumption (C) Investment (I) 330 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) = %3D 24 million
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