The table below shows levels of employment, output, consumption, and saving for a private closed economy. Possible Levels Real Domestic of Employment, Millions Output, Billions $ 250 Consumption, Billions Saving, Billions 45 $ 249 $1 50 270 265 5 55 290 281 9 60 310 297 13 65 70 330 313 17 350 329 21 75 370 345 25 80 390 361 29 85 410 377 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Using the consumption and saving data above and assuming planned investment is $21 billion, answer the following questions: a. What are saving and planned investment at the $370 billion level of domestic output? Saving = $ 29 billion Investment = $ |billion b. What are saving and actual investment at that level? Saving = $ 29 billion Investment = $ 29 billion c. What are saving and planned investment at the $330 billion level of domestic output? Saving = $ 17 billion Investment = $[ billion d. What are the levels of saving and actual investment?
The table below shows levels of employment, output, consumption, and saving for a private closed economy. Possible Levels Real Domestic of Employment, Millions Output, Billions $ 250 Consumption, Billions Saving, Billions 45 $ 249 $1 50 270 265 5 55 290 281 9 60 310 297 13 65 70 330 313 17 350 329 21 75 370 345 25 80 390 361 29 85 410 377 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Using the consumption and saving data above and assuming planned investment is $21 billion, answer the following questions: a. What are saving and planned investment at the $370 billion level of domestic output? Saving = $ 29 billion Investment = $ |billion b. What are saving and actual investment at that level? Saving = $ 29 billion Investment = $ 29 billion c. What are saving and planned investment at the $330 billion level of domestic output? Saving = $ 17 billion Investment = $[ billion d. What are the levels of saving and actual investment?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Please assist me in finding the actual investment, and tell me how I am supposed to get it.
Transcribed Image Text:The 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 |
|-----------------------------------------|-------------------------------|-----------------------|------------------|
| 45 | $250 | $249 | $1 |
| 50 | 270 | 265 | 5 |
| 55 | 290 | 281 | 9 |
| 60 | 310 | 297 | 13 |
| 65 | 330 | 313 | 17 |
| 70 | 350 | 329 | 21 |
| 75 | 370 | 345 | 25 |
| 80 | 390 | 361 | 29 |
| 85 | 410 | 377 | 33 |
**Instructions:** Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (–) in front of those numbers.
Using the consumption and saving data above and assuming planned investment is $21 billion, answer the following questions:
a. What are saving and planned investment at the $370 billion level of domestic output?
- Saving = $29 billion
- Investment = $___ billion
b. What are saving and actual investment at that level?
- Saving = $29 billion
- Investment = $29 billion
c. What are saving and planned investment at the $330 billion level of domestic output?
- Saving = $17 billion
- Investment = $___ billion
d. What are the levels of saving and actual investment?
- Saving = $17 billion
**Graph/Diagram Explanation:**
The table presents data on the levels of employment in millions, real domestic output in billions, consumption in billions, and saving in billions for a private closed economy.
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