In a given year, a country's GDP = $3843, net factor payments from abroad = $191, taxes = $893, transfers received from the government = $422, interest payments on the government's debt = $366, consumption = $3661, and government purchases = $338

Calculate the values of private saving, government saving, and national saving.


Private saving = Y + NFP - T + TR + INT - C = $3843 + $191 - $893 + $422 + $366 - $3661 = $268. Government saving = T -TR - INT - G = $893 - $422 - $366 - $338 = -$233. National saving = Y + NFP - C - G = $3843 + $191 - $3661 - $338 = $35.

Economics

You might also like to view...

According to the textbook application, the EPA reported in 1993 that

a. secondhand smoke was a carcinogen b. secondhand smoke was prohibited from public places c. secondhand smoke did not pose a human health risk d. none of the above

Economics

Adam Smith believed that if people were free to pursue their own interests.

What will be an ideal response?

Economics

In the United States since 1929, the duration of recessions on average has been:

A. longer than the duration of expansions. B. shorter than the duration of expansions. C. steadily increasing. D. steadily decreasing.

Economics

A computerized job bank would be most effective in reducing _____ unemployment.

A. seasonal B. frictional C. cyclical D. structural

Economics