![2. You know the following about the closed economy of Brittania [all figures in millions]: GDP [Y]-$1,000 C S850 G S100 Budget Deficit S50 For each of the folloing questions, show how you arive at your answers](http://img.homeworklib.com/questions/16e8c940-5d27-11ea-96b9-ebe16da1d30b.png?x-oss-process=image/resize,w_560)
![[a] What is the level of investment spending [I] in Brittania? [b] What is the level of national savings [S]? [c] What is the level of net taxation [T]? [d] What is the level of private savings [Sprivate]?](http://img.homeworklib.com/questions/17774290-5d27-11ea-9bfc-a5e4dfb1a910.png?x-oss-process=image/resize,w_560)
Homework Answers
![In a closed economy · l-GDP-C-G = $1,000 million-$850 million-$100 million-$50 million Britania investment spending[T] Private savings is equal to disposable income (income net of taxes-and recall that there are no government transfers) minus consumer spending. In Brittania, private savings is $100 million Private savings GDP T-C $1,000 million-$50 million-$850 million $100 million To calculate net taxation of Britannia = $100-$50 =$50 million National savings is the sum of private savings net taxation balance; that is, it is 100 $50 milion. So investment spending docs cqual national savings](http://img.homeworklib.com/questions/181d7d80-5d27-11ea-8c4c-ffdc3ee14004.png?x-oss-process=image/resize,w_560)
![GDPM=$1000 million. C In a closed economy, =850 G=100, Budget deficit-S50 I-GDP - C-G I- $1,000 million $850 million $100 million $50 million Britania investment spendinglT] Private savings is equal to disposable income (income net of taxes-and recall that there are no government transfers) minus consumer spending. In Brittania, private savings is $100 million Private savings GDP -T C $1,000 million - $50 million $850 million $100 million To calculate net taxation of Britannia $100-$50 $50 million National savings is the sum of private savings net taxation balance; that is, it is $100 $50 million. So invcstment spcnding docs cqual national savings](http://img.homeworklib.com/questions/188e9a40-5d27-11ea-8332-85f4bcf4f905.png?x-oss-process=image/resize,w_560)
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2. You know the following about the closed economy of Brittania [all figures in millions]: GDP...
1. Given the following information about the closed economy of Brittania, what is the level of...
1. Given the following information about the closed economy of Brittania, what is the level of investment spending and private savings, and what is the budget balance? Assume there are no government transfers. GDP = $1340.00 million C $790.00 million T = $270.00 million G = $250.00 million million million Private Savings s million Budget balance S million National Savings S
1.Given the following information about a closed economy, what is the level of investment spendin...
1.Given the following information about a closed economy, what is the level of investment spending and national saving, and what is the budget balance? There are no government transfers. GDP: $1,000 million T=$50 million C=$850 million G=$100 million 2.Given the following information about an open economy, what is the level of investment spending and National savings, and what are the budget balance and net capital inflow? There are no government transfers. GDP: $1,000 million G=$100 million C=$850 million X=$100 million...
Consider the following information about a closed economy: GDP is $2,050 million, taxes are $250 million,...
Consider the following information about a closed economy: GDP is $2,050 million, taxes are $250 million, consumption is $1,550 million, and government spending is $350 million. Calculate the following variables for this economy: Instructions: Enter numbers rounded to the nearest whole number. a. National savings: m illion dollars O O b. Investment: m illion dollars C. Private savings: million dollars
Consider a closed economy described by the following equations (all figures in millions of dollars): Y...
Consider a closed economy described by the following equations (all figures in millions of dollars): Y = C + + G Assume current value of output Y in this economy equals $8,000.00 Annual government expenditure equals $2,000.00 Current level of income tax is combination of flat Tax and income adjusted, based on following tax rate; 1,000 + .1(Y) Current annualized consumer spending equals to: 450 +0.75 (DI), were DI Disposable income = Income - Tax Current level of short term...
[For Questions #47 to 51] The Republic of UWA is a closed-economy with NI-SO. It has...
[For Questions #47 to 51] The Republic of UWA is a closed-economy with NI-SO. It has a GDP of $350, consumption $240, government spending $70, and a budget deficit $20. 47. Calculate public saving Equation: Answer: 48. Calculate taxes Equation: Answer: 49. Calculate private saving. Equation: Answer: 50. Calculate national saving Equation: Answer: 51. Calculate investment Equation: Answer:
4. GDP 20 Consumption 13 Taxes-8 Transfer Pmts=4 Public Saving= -2 A) Calculate Private Saving, Government Spending...
4. GDP 20 Consumption 13 Taxes-8 Transfer Pmts=4 Public Saving= -2 A) Calculate Private Saving, Government Spending, Investment and National Saving B) Is the Govt budget currently in surplus, deficit or balanced? C) Explain the role of Savings/Investment to long run growth. D) How is the Govt budget impacting the level of Investment?
Economists in Fundlandia, a closed economy, have collected the following information about GDP and public savings...
Economists in Fundlandia, a closed economy, have collected the following information about GDP and public savings in their country: Y = 1000 G = 100 T= 100 They further estimate that national savings and investment are governed by the following expressions: S = 150 + 50*r 1 = 600 - 100*r Where r is the country's real interest rate in % terms (thus if you find r = 5, then r is 5%). b.) The government of Funlandia plans to...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values in the table, and assuming transfer payments trillion (Round to one decimal place.) , compute the value of private saving. Private saving QUESTION 4 Trons GDP Consumption Government pending Exports Imports Budget balance What is the value of national savings for the hypothetical economy whose data is given in the table? National Savings trillion.(Round to one decimal place.) 5 QUESTION 5 Tribons of dollars...
Suppose that in a closed economy GDP is equal to 20,000, consumption equal to 15,000, government...
Suppose that in a closed economy GDP is equal to 20,000, consumption equal to 15,000, government purchases equal 4,000 and taxes equal 3,000. What are private saving, public saving, and national saving? a. -2,000, 1,000, and 2,000, respectively. b. 1,000, 2,000, and 3,000, respectively. c. 2,000, -1,000, and 1,000, respectively. d. 2,000, 1,000, and 2,000, respectively.
Question 4 4. Consider the following information for a closed economy. Y = $12 trillion, C...
Question 4
4. Consider the following information for a closed economy. Y = $12 trillion, C = $8 trillion, G = $2 trillion, Spublic $-0.5 trillion and T = $2 trillion. 1. What is private savings for this economy? 2. What is investment spending for this economy? 3. What are the transfer payments for this economy? 4. Is there a government budget defcit or surplus for this economy?
1. Given the following information about the closed economy of Brittania, what is the level of investment spending and private savings, and what is the budget balance? Assume there are no government transfers. GDP = $1340.00 million C $790.00 million T = $270.00 million G = $250.00 million million million Private Savings s million Budget balance S million National Savings S
Consider the following information about a closed economy: GDP is $2,050 million, taxes are $250 million, consumption is $1,550 million, and government spending is $350 million. Calculate the following variables for this economy: Instructions: Enter numbers rounded to the nearest whole number. a. National savings: m illion dollars O O b. Investment: m illion dollars C. Private savings: million dollars
Consider a closed economy described by the following equations (all figures in millions of dollars): Y = C + + G Assume current value of output Y in this economy equals $8,000.00 Annual government expenditure equals $2,000.00 Current level of income tax is combination of flat Tax and income adjusted, based on following tax rate; 1,000 + .1(Y) Current annualized consumer spending equals to: 450 +0.75 (DI), were DI Disposable income = Income - Tax Current level of short term...
[For Questions #47 to 51] The Republic of UWA is a closed-economy with NI-SO. It has a GDP of $350, consumption $240, government spending $70, and a budget deficit $20. 47. Calculate public saving Equation: Answer: 48. Calculate taxes Equation: Answer: 49. Calculate private saving. Equation: Answer: 50. Calculate national saving Equation: Answer: 51. Calculate investment Equation: Answer:
4. GDP 20 Consumption 13 Taxes-8 Transfer Pmts=4 Public Saving= -2 A) Calculate Private Saving, Government Spending, Investment and National Saving B) Is the Govt budget currently in surplus, deficit or balanced? C) Explain the role of Savings/Investment to long run growth. D) How is the Govt budget impacting the level of Investment?
Economists in Fundlandia, a closed economy, have collected the following information about GDP and public savings in their country: Y = 1000 G = 100 T= 100 They further estimate that national savings and investment are governed by the following expressions: S = 150 + 50*r 1 = 600 - 100*r Where r is the country's real interest rate in % terms (thus if you find r = 5, then r is 5%). b.) The government of Funlandia plans to...
QUESTION 3 Tribons of dolers GDP Consumption Government spending Exports Imports Budget balance Given the values in the table, and assuming transfer payments trillion (Round to one decimal place.) , compute the value of private saving. Private saving QUESTION 4 Trons GDP Consumption Government pending Exports Imports Budget balance What is the value of national savings for the hypothetical economy whose data is given in the table? National Savings trillion.(Round to one decimal place.) 5 QUESTION 5 Tribons of dollars...
Question 4
4. Consider the following information for a closed economy. Y = $12 trillion, C = $8 trillion, G = $2 trillion, Spublic $-0.5 trillion and T = $2 trillion. 1. What is private savings for this economy? 2. What is investment spending for this economy? 3. What are the transfer payments for this economy? 4. Is there a government budget defcit or surplus for this economy?
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