In 2020 if government investment spending was €4bn, government consumption spending was €10bn, and government spending on transfer payments was €2bn, what was the value of G in the 2020 national accounts GDP estimate? €16bn €10bn €2bn €14bn
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In 2020 if government investment spending was €4bn, government consumption spending was €10bn, and government spending on transfer payments was €2bn, what was the value of G in the 2020 national accounts
€16bn
€10bn
€2bn
€14bn
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Solved in 3 steps
- The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $900 million. Enter the amount for consumption. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) 250 325 275 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) millionSuppose GDP in this country is $660 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Private Saving = Complete the following table by using national income accounting identities to calculate national saving. In preceding table. National Saving (S) = $ Public Saving = $ = $ Value (Millions of dollars) 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. million million million 195 300 210 calculations, use data from the Based on your calculations, the government is running a budgetThe 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 balanceIn a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows: $11 trillion $8 trillion $2 trillion $1 trillion $2 trillion Y = C = | = TR = T= Using the information above, what is the value of private saving and public saving? A. Private saving equals $8 trillion and public saving equals $2 trillion. B. Private saving equals $0 trillion and public saving equals $1 trillion. C. Private saving equals $2 trillion and public saving equals $8 trillion. D. Private saving equals $2 trillion and public saving equals $0 trillion.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 = = = = million Based on your calculations,…
- Suppose GDP in this country is $480 million. Enter the amount for investment. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (I) Value (Millions of dollars) 150 180 225 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) Private Saving 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. million 105 million million Based on your calculations, the government is running a budget2. 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 $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) $ 90 250 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 1201. 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 government purchases. Value National Income Account (Millions of dollars) Government Purchases (G) Taxes minus Transfer Payments (T) 360 Consumption (C) 1,000 Investment (I) 280 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. W National Saving (S) million $
- Suppose GDP is $9 trillion, taxes are $1.9 trillion, private saving is $0.6 trillion, and public saving is $0.3 trillion. Assuming the economy is closed, complete the following table by calculating consumption, government purchases, national saving, and investment. Component Consumption Government Purchases National Saving Investment Amount (Trillions of dollars)Suppose GDP in this country is $1,680 million. Enter the amount for government purchases. Value National Income Account (Millions of dollars) Government Purchases (G) Taxes minus Transfer Payments (T) 360 Consumption (C) 1,000 Investment (I) 280 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) = 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 %3D Public Saving = million %3D Based on your calculations, the government is running a budgetThe 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
