table below shows levels of employment, output, consumption, and saving for a private closed economy. Possible Levels of Employment, Millions Real Domestic Output, Billions Consumption, Billions Saving, Billions 40 $ 240 $ 244 -$ 4 45 260 260 0 50 280 276 4 55 300 292 8 60 320 308 12 65 340 324 16 70 360 340 20 75 380 356 24 80 400 372 28 Instructions: Enter your answers as a whole number. Using the consumption and saving data above and assuming planned investment is $16 billion, answer the following questions: a. What are saving and planned investment at the $380 billion level of domestic output? Investment = $ billion
table below shows levels of employment, output, consumption, and saving for a private closed economy. Possible Levels of Employment, Millions Real Domestic Output, Billions Consumption, Billions Saving, Billions 40 $ 240 $ 244 -$ 4 45 260 260 0 50 280 276 4 55 300 292 8 60 320 308 12 65 340 324 16 70 360 340 20 75 380 356 24 80 400 372 28 Instructions: Enter your answers as a whole number. Using the consumption and saving data above and assuming planned investment is $16 billion, answer the following questions: a. What are saving and planned investment at the $380 billion level of domestic output? Investment = $ billion
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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table below shows levels of employment, output, consumption, and saving for a private closed economy.
Possible Levels of Employment, Millions | Real Domestic Output, Billions |
Consumption, Billions |
Saving, Billions |
---|---|---|---|
40 | $ 240 | $ 244 | -$ 4 |
45 | 260 | 260 | 0 |
50 | 280 | 276 | 4 |
55 | 300 | 292 | 8 |
60 | 320 | 308 | 12 |
65 | 340 | 324 | 16 |
70 | 360 | 340 | 20 |
75 | 380 | 356 | 24 |
80 | 400 | 372 | 28 |
Instructions: Enter your answers as a whole number.
Using the consumption and saving data above and assuming planned investment is $16 billion, answer the following questions:
a. What are saving and planned investment at the $380 billion level of domestic output?
Investment = $ billion
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