Homework Answers
Ans) 1) By investing in training programmes, skills or productivity of workers will be increased. Further, increase in productivity results in better income.
Option b (increase, increase)
2) GDP (Y) = C+I+G+NX = $2,200 + $350 + $500 + 0 = $3,050
Public savings = T - G = $425 - $500 = - $75
Private savings = Y - T - C = $3,050 - $425 - $2,200 = $425
National savings = public savings + private savings
National savings = - $75 + $425 = $350
Or
National savings = Y - C - G = $3,050 - $2,200 - $500 = $350
Also, S = I . Savings = Investment = $350
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