The following table contains data for a hypothetical closed economy that uses the dollar as its currency.

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The following table contains data for a hypothetical closed economy that uses the dollar as its currency.

2. Saving and investment in the national income accounts

Suppose GDP in this country is $680 million. Enter the amount for consumption.

Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table.

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.

Based on your calculations, the government is running a budget _______

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Answer 1

Answer #1

Consumption - 300 National Saving (S)= Y-C-G, =I, 180 Private Saving= Y-C-T, 200 Public Saving=T-G, -20 Deficit

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Answer 2

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