Suppose the U.S. has a closed economy with GDP (Y) equal to $19.4 trillion, consumption (C) equal to $11.8 trillion, government spending (G) equal to $4.1 trillion, transfer payments (TR) equal to $1.3 trillion, and taxes (T) equal to $3.5 trillion. What is private savings (SPrivate).
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- If consumption expenditures are $1800 million, gross investment is $450 million, imports are $350 million, exports are $180 million, government expenditure on goods and services is $120 million, and government transfer payments are $180 million and net taxes are $250 million; a) Calculate the GDP. b) Is there budget deficit or surplus? Calculate. c) How much is the private (household) saving?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?If consumption expenditures are $1800 million, gross investment is $450 million, imports are $350 million, exports are $180 million, government expenditure on goods and services is $120 million, and government transfer payments are $180 million and net taxes are $250 million; a) Calculate the GDP. b) Is there budget deficit or surplus? Calculate. c) How much is the private (household) saving? d) How much is the disposable income?
- A closed economy has income of $1000, government spending of $200, taxes of $150, and investment of $250. What is private saving?Suppose real GDP is $5,136 billion, taxes collected by the government are $535 billion, government spending is $656 billion, and consumption spending is $3,893 billion. What is the value of private saving?See attached image. Identify the value of savings in the economy What is the value of tax revenue in the economy What is the value of investment spending in the economy
- Suppose that GDP is $8 billion, taxes are $1.5 billion, private saving is $0.5 billion, andpublic saving is 0.2 billion. Assuming the economy is closed, calculate the size of: Government Spending and National SavingsIf consumption expenditures are $1800 million, gross investment is $450 million, imports are $350 million, exports are $180 million, government expenditure on goods and services is $120 million, and government transfer payments are $180 million and net taxes are $250 million; a) Calculate the GDP. b) Is there budget deficit or surplus? Calculate. c) How much is the private (household) saving? d) How much is the disposable income? e) Calculate the national savings.If net personal taxes rise, what happens to private saving ? Public saving ?
- Use the information in the table below to answer the following questions. GDP Consumption Government spending 2,000 1,500 300 400 Net taxes Please enter your answers as numerical values (ie. 300 or $300 not "Three hundred dollars") What is the value of Private Savings? What is the value of Public Savings? What is the value of National Savings?Economics Suppose GDP is $10 trillion, taxes are $2.5 trillion, private saving is $1.5 trillion, and public saving is $0.5 trillion. Assuming this economy is closed; calculate consumption, government purchases, national saving, and investment.[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?