Suppose GDP in this country is $480 million. National Income Account Value (Millions of dollars) Government Purchases (GG) 150 Taxes minus Transfer Payments (TT) 180 Consumption (CC) 225 Investment (II) 105 Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = (YTI, TG, YCT) = = ?million
Suppose GDP in this country is $480 million. National Income Account Value (Millions of dollars) Government Purchases (GG) 150 Taxes minus Transfer Payments (TT) 180 Consumption (CC) 225 Investment (II) 105 Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = (YTI, TG, YCT) = = ?million
Survey of Economics (MindTap Course List)
9th Edition
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Irvin B. Tucker
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 13SQ
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Suppose GDP in this country is $480 million.
|
Value
|
---|---|
(Millions of dollars)
|
|
Government Purchases (GG) | 150 |
Taxes minus Transfer Payments (TT) | 180 |
Consumption (CC) |
225
|
Investment (II) | 105 |
Complete the following table by using national income accounting identities to calculate private and public saving . In your calculations, use data from the initial table.
Private SavingPrivate Saving | = | (YTI, TG, YCT) |
= = |
|
Public SavingPublic Saving | = = | (CT, TG, YCT, YTI) |
= = |
|
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