The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,170 million. Enter the amount for investment. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (1) National Saving (S) = Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data preceding table. Complete the following the initial table. Private Saving = = = $ G-T G-T Y-T-G Y-C-G Y-C Value (Millions of dollars) 300 million 390 450 million ng national income accounting identities to calculate private and public saving. In your calculations,
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,170 million. Enter the amount for investment. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (1) National Saving (S) = Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data preceding table. Complete the following the initial table. Private Saving = = = $ G-T G-T Y-T-G Y-C-G Y-C Value (Millions of dollars) 300 million 390 450 million ng national income accounting identities to calculate private and public saving. In your calculations,
Chapter1: Making Economics Decisions
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Transcribed Image Text:2. Saving and investment in the national income accounts
The following table contains data for a hypothetical closed economy that uses the dollar as its currency.
Suppose GDP in this country is $1,170 million. Enter the amount for investment.
National Income Account
Government Purchases (G)
Taxes minus Transfer Payments (T)
Consumption (C)
Investment (I)
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) =
Complete the following
the initial table.
Private Saving
=
=
= $
Public Saving =
=
G-T
G-T
Y-T-G
Y-C-G
Y-C
Value
(Millions of dollars)
300
390
450
million
ng national income accounting identities to calculate private and public saving. In your calculations, use data from
million
million
Based on your calculations, the government is running a budget
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