do fast no chagpt answer i will 5 upvotes. KIn a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows:$11 trillionY=C=$8 trillion| = $2 trillionTR=$1 trionT = $2 trillionUsing the information above, what is the value of private saving and public saving?OA. Private saving equals $8 trillion and public saving equals $2 trillion.OB. Private saving equals $0 trillion and public saving equals $1 trillion.C. Private saving equals $2 trillion and public saving equals $8 trillion.OD. Private saving equals $2 trillion and public saving equals $0 trillion.

Ans. ) Given the question, the task is to find the public savings and private savings. Given the…

Answered: K In a closed economy, the values for…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Savings,investment And The Financial System

Section: Chapter Questions

Problem 2CQQ

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Economics Suppose GDP last year in a closed economy was $3,000, taxes were $200, government spending was $500, and consumption was $1,40o. What was private saving? none of the listed answers are correct -$300 O $1,400 $1,100
Please help with this from c . Please make it make sense because I have seen answers that dont seem right. I would like graph of C as well showing the shifts and changesConsider an economy described by the following equations:Y=C + I +GY=7,000G=4000T=2,000C=150+0.75(Y-T)I=1,000-50ra. In this economy, compute private saving, public saving and national saving.b. Calculate the equilibrium interest rate.c. Now suppose the G rises by 1,000. Compute private saving, public saving, andnational saving.d. Calculate the new equilibrium interest rate.
Suppose GDP-11 billion, taxes-3 billion, private saving3D0.9 billion, and public saving-0.6 billion: O Consumption spending-7.1, Government spending-2.4. O Consumption spending-7.1, Government spending-3. Consumption spending-8, Government spending 3.6. Consumption spending-8, Government spending-3.
Use the following graph for a private closed economy (an economy with only a private sector and no international trade) to answer the next question. Consumption and Investment $500 450 400 350 - 300 - 250 -- 200 150 100 50 O O $50 billion. At the equilibrium level of real GDP, saving will be O $100 billion. 45 O $150 billion. C+Ig $50 100 150 200 250 300 350 400 450 500 550 Real Domestic Output ($B) O undeterminable from the information given. с
4. Suppose GDP is $8 trillion, taxes are $1.5 trillion, private saving is $0.5 trillion, and public saving is $0.2 tríllion. Assuming this econ- omy is closed, calculate consumption, government purchases, na- tional saving, and investment.
Please answer fast please help
22. Assume the US is operating in a closed economy and GDP is $20 trillion, consumption is $8 trillion, government spending is $10 trillion, and there is a balanced budget. a. Write the equation for public saving. Solve for public saving in this economy. b. Solve for net taxes c. Write the equation for private saving. Solve for private saving in this economy.
Only typed answer
pls also do the graph
Refer to the graph above for a private closed economy. At the equilibrium level of GDP, saving will be: Select one: a. $50 billion b. $100 billion c. $150 billion d. Cannot be determined from the information given
For a closed economy, GDP is $10, consumption is $8, taxes are $1, and the buget deficit is $1, What are private saving and national saving? a. $2 and $1 O b. $1 and $2 O c. $1 and $0 O d. $1 and $1
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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