Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and government spending is $5,000. In this case, private saving is _____. a $5,000 b $10,000 c $15,000 d none of the above
Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and government spending is $5,000. In this case, private saving is _____. a $5,000 b $10,000 c $15,000 d none of the above
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter8: Savings,investment And The Financial System
Section: Chapter Questions
Problem 4PA
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Question
1. Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and government spending is $5,000. In this case, private saving is _____.
a
|
$5,000
|
b
|
$10,000
|
c
|
$15,000
|
d
|
none of the above
|
2. Suppose that in a closed economy GDP is $50,000, consumption is $35,000, taxes are 10,000 and government spending is $5,000. In this case, investment is _____.
a
|
($5,000)
|
b
|
$5,000
|
c
|
$15,000
|
d
|
None of the above
|
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