Q15 Consider a closed economy for which GDP is equal to 22,000, taxes are equal to 7,000, consumption is equal to13,000, and government expenditures are equal to 4000. What is private saving?O 3,000O 200O L,0

In a closed economy there is no trade with other countries thus net export equals zero.

Answered: Consider a closed economy for which GDP…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Consider a closed economy for which GDP is equal to 22,000, taxes are equal to 7,000, consumpta 13,000, and government expenditures are equal to 4000. What is private saving? O3,000 O 2,000