MACROECONOMICS - MYECONLAB >IA<
7th Edition
ISBN: 9780135852866
Author: Hubbard
Publisher: PEARSON
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Chapter 10, Problem 10.2.7PA
Sub part (a):
To determine
The calculation of private saving for a closed economy.
Sub part (b):
To determine
The calculation of
Sub part (c):
To determine
The calculation of government purchase for a closed economy.
Sub part (d):
To determine
The calculation of government budget for a closed economy.
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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?
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Chapter 10 Solutions
MACROECONOMICS - MYECONLAB >IA<
Ch. 10 - Prob. 10.1.1RQCh. 10 - Prob. 10.1.2RQCh. 10 - Prob. 10.1.3RQCh. 10 - Prob. 10.1.4RQCh. 10 - Prob. 10.1.5PACh. 10 - Prob. 10.1.6PACh. 10 - Prob. 10.1.7PACh. 10 - Prob. 10.1.8PACh. 10 - Prob. 10.1.9PACh. 10 - Prob. 10.1.10PA
Ch. 10 - Prob. 10.1.11PACh. 10 - Prob. 10.1.12PACh. 10 - Prob. 10.1.13PACh. 10 - Prob. 10.1.14PACh. 10 - Prob. 10.2.1RQCh. 10 - Prob. 10.2.2RQCh. 10 - Prob. 10.2.3RQCh. 10 - Prob. 10.2.5PACh. 10 - Prob. 10.2.6PACh. 10 - Prob. 10.2.7PACh. 10 - Prob. 10.2.8PACh. 10 - Prob. 10.2.9PACh. 10 - Prob. 10.2.10PACh. 10 - Prob. 10.2.11PACh. 10 - Prob. 10.2.12PACh. 10 - Prob. 10.2.13PACh. 10 - Prob. 10.2.14PACh. 10 - Prob. 10.2.15PACh. 10 - Prob. 10.2.17PACh. 10 - Prob. 10.3.2RQCh. 10 - Prob. 10.3.3RQCh. 10 - Prob. 10.3.4PACh. 10 - Prob. 10.3.5PACh. 10 - Prob. 10.3.6PACh. 10 - Prob. 10.3.7PACh. 10 - Prob. 10.3.8PACh. 10 - Prob. 10.3.9PACh. 10 - Prob. 10.1RDECh. 10 - Prob. 10.2RDECh. 10 - Prob. 10.3RDECh. 10 - Prob. 10.2CTE
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- 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.arrow_forwardQ2.In each of the following, calculate private, public and national savings and the national savings rate. Given that: Household savings = 200 Business savings = 400 Government purchases = 100 Government transfers = 100 Tax collections = 150 Gross Domestic Product = 2,200arrow_forwardA closed economy, have collected the following information about the economy for a particular year: Y = 10,000 C = 6,000 T = 1,500 G = 1,700 Calculate private savings.arrow_forward
- The IS curve shows that when national income rises a. Interest rate should fall to obtain equilibrium in the goods market b. Price level should fall to obtain equilibrium in the goods market c. Interest rate should fall to obtain equilibrium in the money market d. Price level should fall to obtain equilibrium in the money marketarrow_forwardDescribe briefly how GDP returns to its potential level.arrow_forwardIn a closed economy, net exports are - ___________________ Select one: a. Lesser than 0 (< 0) b. Equals 0 (= 0) c. Greater than 0 (> 0) d. None of the abovearrow_forward
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