Fill in the missing blanks in the following table. Assume for simplicity that taxes are zero....
Fill in the missing blanks in the following table. Assume for simplicity that taxes are zero.
|
National Income and Real GDP (Y) |
Consumption (C) |
Saving (S) |
|
$12 comma 00012,000 |
$8 comma 4008,400 |
$nothing |
|
$13 comma 00013,000 |
$9 comma 1009,100 |
$nothing |
|
$14 comma 00014,000 |
$9 comma 8009,800 |
$nothing |
|
$15 comma 00015,000 |
$10 comma 50010,500 |
$nothing |
|
$16 comma 00016,000 |
$11 comma 20011,200 |
$nothing |
Homework Answers
Answer
The formula is:
S=Y-C
From the first blank
S=12000-8400=3600
S=13000-9100=3900 and so on
| GDP | C | S |
| 12000 | 8400 | 3600 |
| 13000 | 9100 | 3900 |
| 14000 | 9800 | 4200 |
| 15000 | 10500 | 4500 |
| 16000 | 11200 | 4800 |
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