The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) Public Saving Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private Saving = million 90 250 120 million million Based on your calculations, the government is running a budget

The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $470 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) Public Saving Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private Saving = million 90 250 120 million million Based on your calculations, the government is running a budget

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $480 million. Enter the amount for consumption. National Income Account Value (Millions of dollars) Government Purchases (GG) 150 Taxes minus Transfer Payments (TT) 180 Consumption (CC) (___) Investment (II) 105 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S) =   (Y-C-G, Y-C, G-T, Y-T-G)    = (G,Y,C,I)    $____million
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,250 million. Enter the amount for investment. National Income Account Value (Millions of dollars) Government Purchases (GG) 250 Taxes minus Transfer Payments (TT) 300 Consumption (CC) 625 Investment (II) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S) =  =    =  =    million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving =  =    =  = million Public SavingPublic Saving =  =    =  = million Based on your calculations,…
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,175 million. Enter the amount for government purchases. National Income Account Value Government Purchases (GG) Taxes minus Transfer Payments (TT) 225 Consumption (CC) 625 Investment (II) 300 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S) =   =    $ million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private Saving =    = $ million Public Saving =      = $ million Based on your calculations, the government is running a budget (a. surplus, b. deficit).
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,540 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (GG) Taxes minus Transfer Payments (TT) 455 Consumption (CC) 700 Investment (II) 490 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S) = = (y-t-g, g-t, y-c, y-c-g) = = (C,G,Y,I) $ ______million
Using what you know about national income accounting, answer the following: Assuming that households have zero interest or transfer payments, show that an increase in disposable income will increase consumption or savings and vice versa. That tax increases (note: with no change in transfer payments) will change government spending, net exports and the saving-investment balance
You are given the following information: Consumption of goods and services $1,250 Gross business investment 350 Government expenditure 400 Depreciation 100 Indirect business taxes 25 Corporate retained earnings 150 Corporate taxes 95 Personal taxes 250 Determine: Gross National Product. Net National Product. National Income. Personal Income. Disposable Income. Personal saving. Business saving. Government saving. i. National saving. Show that national saving equals gross business…
The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320), imports ($35), exports ($22), personal consumption expenditures $2460, and government purchases ($470). What is the Net Export in this economy?
2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,680 million. Enter the amount for investment. National Income Account Value (Millions of dollars) Government Purchases (GG) 400 Taxes minus Transfer Payments (TT) 360 Consumption (CC) 1,000 Investment (II) Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (S) = = = = million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic Saving = =…
In the small closed economy of Bonretia, the currency is the denar. Statistics for last year show that private saving was 50 billion denars, taxes were 40 billion denars, government purchases of goods and services were 30 billion denars, there were 20 billion denars in transfer payments by the government, and GDP was 70 billion denars. What were consumption and investment in San Bonretia? Please read carefully before solve
2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $1,800 million. Enter the amount for government purchases. National Income Account Value (Millions of dollars) Government Purchases (G�) Taxes minus Transfer Payments (T�) 585 Consumption (C�) 675 Investment (I�) 675 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. National Saving (S)National Saving (�) = = G - TG - T = = I� million Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = = = = million Public SavingPublic…
Which of the following best describes the relationship between net exports and national savings? a. Net Exports = National Savings – Investment b. Net Exports = Private Savings - Investment c. Net Exports = Investment - National Savings d. There is no relationship between net exports and national savings.
QUESTION 14For an open economy, which of the following expressions represents private saving (S)? investment plus tax revenues less government expenditure plus net exports, I + T – G + NXI + T – G – NXI + G + NXG – T + NX – In one of the above