Suppose that in a closed economy GDP is $15.02 trillion, consumption is $6.28 trillion, taxes are $4.31 trillion, transfers are $1.48 trillion, and the government runs a budget surplus of $1.76 trillion. What is the value of national savings based on this information? Provide your answer in trillions and round it to two digits after the decimal. Ex. If your solution is 6.3 trillion, enter 6.30

Suppose that in a closed economy GDP is $15.02 trillion, consumption is $6.28 trillion, taxes are $4.31 trillion, transfers are $1.48 trillion, and the government runs a budget surplus of $1.76 trillion. What is the value of national savings based on this information? Provide your answer in trillions and round it to two digits after the decimal. Ex. If your solution is 6.3 trillion, enter 6.30

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter11: Managing Aggregate Demand: Fiscal Policy

Section11.A: Graphical Treatment Of Taxes And Fiscal Policy

Problem 2TY

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