Given the values in the table, and assuming transfer payments = 0, compute the value of private saving. Private saving = $_____________ trillion. (Round to one decimal place.) Thank you!
Budget balance = T - G
-1.2 = T - 3
Thus, tax revenue (T) = $1.8 trillion
3.
Private saving = Y - C - T
Private saving = 15.9 - 11.3 - 1.8
Private saving = $2.8 trillion
4.
National saving = Y - C - G
National saving = 15.9 - 11.3 - 3
National saving = $1.6 trillion
Given the values in the table, and assuming transfer payments = 0, compute the value of...
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