You are given the following information about an economy: Gross private domestic investment = 35 Government purchases of goods and services = 30 Gross national product (GNP) = 250 Current account balance = 10 Taxes = 40 Government transfer payments to the domestic private sector = 30 Interest payments from the government to the domestic private sector = 20 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world = 7 Factor payments made to rest of world = 8 Find the following, assuming that government investment is zero. Net factor payments from abroad = (Enter your answer as a whole number.) GDP = 251. (Enter your answer as a whole number.) Net exports = (Enter your answer as a whole number.) Consumption = (Enter your answer as a whole number.) Private saving = (Enter your answer as a whole number.) Government saving = (Enter your answer as a whole number.) National saving = (Enter your answer as a whole number.)

You are given the following information about an economy: Gross private domestic investment = 35 Government purchases of goods and services = 30 Gross national product (GNP) = 250 Current account balance = 10 Taxes = 40 Government transfer payments to the domestic private sector = 30 Interest payments from the government to the domestic private sector = 20 (Assume all interest payments by the government go to domestic households.) Factor income received from rest of world = 7 Factor payments made to rest of world = 8 Find the following, assuming that government investment is zero. Net factor payments from abroad = (Enter your answer as a whole number.) GDP = 251. (Enter your answer as a whole number.) Net exports = (Enter your answer as a whole number.) Consumption = (Enter your answer as a whole number.) Private saving = (Enter your answer as a whole number.) Government saving = (Enter your answer as a whole number.) National saving = (Enter your answer as a whole number.)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 6P

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Question

You are given the following information about an economy:
Gross private domestic investment = 35
Government purchases of goods and services = 30
Gross national product (GNP) = 250
Current account balance = 10
Taxes = 40
Government transfer payments to the domestic private sector = 30
Interest payments from the government to the domestic private sector = 20
(Assume all interest payments by the government go to domestic households.)
Factor income received from rest of world = 7
Factor payments made to rest of world = 8
Find the following, assuming that government investment is zero.
Net factor payments from abroad = -1. (Enter your answer as a whole number.)
GDP = 251. (Enter your answer as a whole number.)
Net exports =
(Enter your answer as a whole number.)
Consumption =
. (Enter your answer as a whole number.)
Private saving =
(Enter your answer as a whole number.)
Government saving =
(Enter your answer as a whole number.)
National saving =
(Enter your answer as a whole number.)

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