1)
Saving = Public saving + Private Saving
Private saving = Y - T-C
= 10 000 - 1400 -7200
= 1400
Public saving = T -G
= 1400 - 1200
= 200
Total Saving = 1400 + 200
= 1600
2)
Y = C+I+G+Xn
10000 = 7200+800+ 1200 +Xn
Xn = 800
Current account balance = 800.
We have the following data for a hypothetical open economy GNP = $10,000 Consumption (C) =...
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