Savings, Investment, and Deficits Suppose a country has a closed economy, and at first it has the following macroeconomic data: Real GDP = $800 per year %3D Consumption = $560 per year %3D Tax revenue = $80 per year Government spending = $120 per year %3D Based on the information above, how many dollars of savings are supplied to the country's credit market (national saving)? Enter your answer in the space below. (If your answer is negative, be su to include the minus sign in the answer you enter.)
Savings, Investment, and Deficits Suppose a country has a closed economy, and at first it has the following macroeconomic data: Real GDP = $800 per year %3D Consumption = $560 per year %3D Tax revenue = $80 per year Government spending = $120 per year %3D Based on the information above, how many dollars of savings are supplied to the country's credit market (national saving)? Enter your answer in the space below. (If your answer is negative, be su to include the minus sign in the answer you enter.)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter27: Investment, The Capital Market, And The Wealth Of Nations
Section: Chapter Questions
Problem 11CQ
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