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2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) National Saving (S) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. = Value (Millions of dollars) $ 90 250 120 million

2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) National Saving (S) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. = Value (Millions of dollars) $ 90 250 120 million

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: Savings,investment And The Financial System
Section: Chapter Questions
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2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) $ 90 250 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) million 120
Transcribed Image Text:2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) $ 90 250 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) million 120
National Saving (S) Private Saving 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. Public Saving = $ $ $ million million million Based on your calculations, the government is running a budget
Transcribed Image Text:National Saving (S) Private Saving 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. Public Saving = $ $ $ million million million Based on your calculations, the government is running a budget
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