5. Use the following table to answer the next question(s). All values are measured as a...
5. Use the following table to answer the next question(s). All values are measured as a percent of GNP.
Savings By Households = 3%
Savings by Business = 4%
Private investment = 14%
Net Taxes Paid = 20%
Government spending on goods and services = 22%
A) Total savings, private plus public, is equal to _____?
B) The current account balance is: _________?
Homework Answers
Public saving is the difference between net taxes and government spending. Public saving is therefore 20 - 22 or -2%. Private saving is 3%.
A) private + public saving is therefore 3% + 4% - 2% = 5%
B) investment is 14%. Current account balance is saving minus investment or 5% - 14% = -9%.
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