The following table contains data for a hypothetical closed economy that uses the dollar as its currency.  Suppose GDP in this country is $1,250 million. Enter the amount for investment. National Income Account Value (Millions of dollars) Government Purchases (GG) 250 Taxes minus Transfer Payments (TT) 300 Consumption (CC) 625 Investment (II)     Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S)  =  =          =  =             million    Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving  =  =          =  =    million    Public SavingPublic Saving  =  =          =  =    million    Based on your calculations, the government is running a budget

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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The following table contains data for a hypothetical closed economy that uses the dollar as its currency.
 Suppose GDP in this country is $1,250 million. Enter the amount for investment.
National Income Account
Value
(Millions of dollars)
Government Purchases (GG) 250
Taxes minus Transfer Payments (TT) 300
Consumption (CC) 625
Investment (II)
 
 
Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table.
National Saving (S)National Saving (S)  =  =      
   =  =      
   
 
million 
 
Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table.
Private SavingPrivate Saving  =  =      
   =  = 
 
million 
 
Public SavingPublic Saving  =  =      
   =  = 
 
million 
 
Based on your calculations, the government is running a budget   
 
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