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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

What is national saving? What is private saving? What is public saving? How are these three variables related?

To determine

The private savings, public savings and the national savings.

Explanation

The savings is the revenue left after the spending. There are mainly three types of incomes, namely Private income, Government income and the National income. The personal income refers to the income of the individual or the consumer. When the personal income tax is paid from of the income of the individual, the remaining part is known as the disposable income. Subtracting the total consumption from disposable income is known as private savings.

The government savings is the savings left with the government after the different spending of the government. The income of the government is the tax revenue collected by the government...

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