The table gives you information about the economy of Australia.DisposableCalculate the marginal propensity to save.incomeThe marginal propensity to save is 0.25>>> Answer to 2 decimal places.Saving(billions of dollars per year)01000252005030075400100

The marginal propensity to save (MPS) is a crucial concept in economics that measures the change in…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the following data for a closed economy: Y = $11 trillion C = $10 trillion G = $2 trillion Spublic = $-0.5 trillion T = $1 trillion Use these data to calculate the following: a. private saving, b. investment spending, c. transfer payments and d. the government budget balance. a. Private saving is: $ trillion. (Round your responses to one decimal place.) b. Investment spending is: $ trillion. (Round your responses to one decimal place.) c. Transfer payments are: $ trillion. (Round your responses to one decimal place.) d. The government budget balance is: $ trillion and as a result the government budget is in (Round your responses to one decimal place.)
Consider country B. Its absorption is 2500, the tax is 400, the investment is 400, the national saving is 100 and the government saving is 0. Answer B’s government spending and real income. G:& Y:.
Suppose real GDP is $6,182 billion, taxes collected by the government are $719 billion, government spending is $820 billion, and consumption spending is $4,478 billion. What is the value of national saving?
a. If national saving of a closed economy equals$100,000, net taxes equal$125,000,GDPdeflator is 175 and government expenditure equals$45,000, what is private saving?
When making choices between spending or saving, how might these decisions impact the aggregate (national) economy?
For a closed economy, GDP is $18 trillion, consumption is $13 trillion, taxes are $2 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?
Your two younger brothers both looked at your notes and thought the answer to the question “what savings rate will make your country have the highest level of consumption?” was obvious. Corey thought “obviously you should save 0% so that you can spend all of your income on consumption.” Eric thought “obviously you should save 100% so that you can invest and become super rich.” Both Corey and Eric both can’t see the big picture about steady state consumption. Write a short explanation to help them see the big picture. Why is the optimal saving rate generally not 0% or 100%? .
Answer the following in 10 minutes I’m studying.
answer quickly
If the population of a country grows and increases both the labor force and the demand for consumption, the GDP of that country is likely to... A. Depends on other factors B. Fall C. Stay Constant D. Rise
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The table gives you information about the economy of Australia. Disposable Calculate the marginal propensity to save. income The marginal propensity to save is 0.25 >>> Answer to 2 decimal places. Saving (billions of dollars per year) 0 100 0 25 200 50 300 75 400 100