Consider an economy described by the following equations:Y=C+I+G+NXY=10,000G=3,500T=2,300C-600 + 4/5(Y-T)1=1,100-60rNX-1,800-670€r.-8.In this economy, private saving =ratepublic savinginvestment =national savingthe trade balanceand the equilibrium exchange.(please enter your answers in numerical value without any dollar sign, comma, or a decimal place.)

Here, Y = C + I + G + NX Where Y is output, C is consumption, I is an investment, G is government…

in this economy, private saving= ate public saving investment the trade balance and the equilibrium exchang (please enter your answers in numerical value without any dollar sign, comma, or a decimal place.)

in this economy, private saving= ate public saving investment the trade balance and the equilibrium exchang (please enter your answers in numerical value without any dollar sign, comma, or a decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.

Question

Consider an economy described by the following equations:
Y=C+I+G+NX
Y=10,000
G=3,500
T=2,300
C-600 + 4/5(Y-T)
1=1,100-60r
NX-1,800-670€
r.-8.
In this economy, private saving =
rate
public saving
investment =
national saving
the trade balance
and the equilibrium exchange.
(please enter your answers in numerical value without any dollar sign, comma, or a decimal place.)

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Step 1: Determine the given variables:

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Step 2: Calculation of private saving.

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Step 3: Calculation of public saving:

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Step 4: Calculation of national saving.

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Step 5: Calculation of investment.

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Step 6: Calculation of trade balance:

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Step 7: Calculation of equilibrium exchange rate:

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My dear bro not hand written.