Homework Answers
Since in equilibrium
Y=C+I+G
15=12+1.5+G
G=15-13.5
G=$1.5 billion
Public saving=T-G-TR
=1-1.5-1
=(-$1.5 billion)
National saving is investment.
National saving=Private saving+ public saving
1.5=Private saving+(-1.5)
Private saving=1.5+1.5
=$3.0 billion
Total saving is equal to national saving=$1.5 billion
Government budget deficit=(-$1.5 billion)
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