GDP is $5 billion this year in a closed economy. Consumption is $3 billion, and government spending is $0.5 billion and taxes are $0.5 billion. How much is private saving? Select one Oo $45 billion Ob $0 billion OC -105 billion Od $1.5 billion

GDP is $5 billion this year in a closed economy. Consumption is $3 billion, and government spending is $0.5 billion and taxes are $0.5 billion. How much is private saving? Select one Oo $45 billion Ob $0 billion OC -105 billion Od $1.5 billion

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

GDP is $5 billion this year in a closed economy. Consumption is $3 billion, and government spending is $0.5 billion and taxes are $0.5 billion. How much is private
saving?
Select one:
Oo $4.5 billion
Ob 50 billions
OC -50.5 billion
Od $1.5 billion.

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