Suppose the U.S. has a closed economy with GDP (Y) equal to $19.4 trillion, consumption (C) equal to $11.8 trillion, government spending (G) equal to $4.1 trillion, transfer payments (TR) equal to $1.3 trillion, and taxes (T) equal to $3.5 trillion. What is private savings (SPrivate).

Suppose the U.S. has a closed economy with GDP (Y) equal to $19.4 trillion, consumption (C) equal to $11.8 trillion, government spending (G) equal to $4.1 trillion, transfer payments (TR) equal to $1.3 trillion, and taxes (T) equal to $3.5 trillion. What is private savings (SPrivate).

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter8: Savings,investment And The Financial System

Section: Chapter Questions

Problem 4PA

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Question

Suppose the U.S. has a closed economy with GDP (Y) equal to $19.4 trillion, consumption (C) equal
to $11.8 trillion, government spending (G) equal to $4.1 trillion, transfer payments (TR) equal to $1.3
trillion, and taxes (T) equal to $3.5 trillion. What is private savings (SPrivate).

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