QUESTION, 11 Y - C- Gin a closed economy, represents a. national saving b. private saving public saving с. d. government tax revenue a d. QUESTION 12 For the Argentinean economy, T= $4,500; S = $10,500; C = $48,000; and the government is running a budget surplus of $1,000. Then private saving = $4,800 and GDP= $70,000. a. private saving = $6,200 and GDP= $63,000. private saving = $9,000 and GDP= $62,000. b. с. d. private saving = $9,500 and GDP = $62,000. %3D a d. OOO QUESTION 7 The introdution of the video cassette recorder in the 1970s exemplified a problem in measuring the cost of living; that problem is the problem of a. substitution bias. product-improvement bias. introduction of new goods. b. с. d. unmeasured quality change. a QUESTION 8 The definition of productivity is a. real GDP per worker. b. nominal GDP per worker. с. natural resources per worker d. physical capital per worker. a d.

Suppose the government of a small open economy decides to increase taxes on all gross incomes, describe what will happen to public saving assuming all other things remain constant. a.Public saving will not be affected b.Public saving will decrease c.National saving will increase d.Public saving will increase

4. Suppose gross saving in the United States is 20 percent of Gross National Product (GNP). a. If business saving is 15 percent of GNP and government saving is 4 percent of GNP, what percent of GNP is personal saving?b. Explain why a federal budget surplus increases national saving while a budget deficit decreases national saving.c. How can a federal budget deficit increase market equilibrium interest rates and reduce private investment and future economic growth?

Suppose a closed economy had public saving of -$1 trillion and private saving of $3 trillion. What are national saving and investment for this country? B $2 trillion, $2 trillion $2 trillion, $3 trillion C) $3 trillion, $3 trillion $4 trillion, $2 trillion

a. The following plot shows the 12-month percentage growth rates in real personal consumption expenditures (blue line) and in real government expenditures (red line). Do you see any evidence that the latter crowds out the former? Why or why not? 20 15 10 5 -10 -15 15 10 5 0 -5 -10 The following plot shows the 12-month percentage growth rates in real GDP (blue line) and in real government expenditures (red line). What, if any, relationship does there appear to be between these two time series? Briefly explain. Rate of Growth of C (blue) and G (red) 2003 3005 2007 2003 2013 2015 2017 2019 Rate of Growth of Y (blue) and G (red) 2011 2009 2007 2005 2013 2015 2021 2017 2023 2019 2021 2023

Currently, the US has a total consumption of $12 trillion, saving of $6 trillion, tax revenues of $5 trillion, and government spending of $7 trillion. Relative to a balanced budget, the government’s actions in this economy will cause: a. Higher interest rates today and reduced economic growth for future generations. b. Lower interest rates today and reduced economic growth for future generations. c. Higher interest rates today and enhanced economic growth for future generations. d. Lower interest rates today and enhanced economic growth for future generations.

Please no written by hand solutions Currently, the U.S. has a total consumption of $21,300,000, savings of $9,700,000, government spending of $8,800,000, and investment of $6,800,000. Calculate the size of this government's budget deficit assuming net exports = net imports. $ Provide your answer as a whole number. Typed numeric answer will be automatically saved.