Suppose real GDP is $5,042 billion, taxes collected by the government are $534 billion, government spending is $846 billion, and consumption spending is $3,461 billion. What is the value of public saving? Enter a whole number with no dollar sign and please do not include the word billion.  If appropriate, please enter a negative (-) sign.

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Q: 1. Explain the difference between public & private saving.

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Q: 9. If disposable income is 4,000, consumption is 3,500, government spending is 1,000, and taxes…

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A: The national savings would be the total savings from the public and the private sector. The public…

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A: GDP = 15,000 GOVERNMENT PURCHASE = 3000 Consumption = 10,500 Taxes = 3500

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