Solved: Consider a closed economy in which gdp equals 20 billion, Business Economics

Consider a closed economy in which gdp equals 20 billion

1. Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion, government purchases equal $3 billon and tax revenue equals $1 billion. Use this information to answer the following questions:

a. What is private savings equal to in this economy?

b. What is public savings equal to in this economy?

c. How would the level of public savings impact the supply of loanable funds?

d. What is national saving equal to in this economy?

e. What are net exports equal to in this economy?

f. What is investment equal to in this economy?

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Business Economics: Consider a closed economy in which gdp equals 20 billion

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