Using the following data, calculate private savings for a closed economy. Please round to 1 decimal place. Y = 12.4 C = 7.7 I = 2.3 TR = 1 T = 2.5
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- What was the maximum change in GSP from the government spendingOptimizing economic agents use the real interest rate when thinking about the economic costs and returns of a loan. Suppose the average rate paid by banks on savings accounts is 0.80% at a time when inflation is around 1.95%. For the average saver, the real rate of interest on his or her savings is ___%.If the Money Supply increases, what happens in the Market for Loanable funds? Draw the graph. Make sure to label the axes.
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