Q15 Consider a closed economy for which GDP is equal to 22,000, taxes are equal to 7,000, consumption is equal to13,000, and government expenditures are equal to 4000. What is private saving?O 3,000O 200O L,0

In a closed economy there is no trade with other countries thus net export equals zero.

Answered: Consider a closed economy for which GDP…

ENGR.ECONOMIC ANALYSIS

14th Edition

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Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Consider a closed economy for which GDP is equal to 22,000, taxes are equal to 7,000, consumpta 13,000, and government expenditures are equal to 4000. What is private saving? O3,000 O 2,000