In an open economy, GDP is $12 trillion this year. Consumption is $8 trillion, and government spending is $2 trillion. Taxes are $0.5 trillion. Exports are $1 trillion, and imports are $3 trillion. How much is national saving?
A) $4 trillion
B) $3.5 trillion
C) $2 trillion
D) $5.5 trillion
Correct Answer:
Verified
Q28: In a closed economy, national savings equals:
A)
Q29: In an open economy, GDP is $12
Q30: National savings is the sum of private
Q31: The government saves when tax revenue:
A) is
Q32: According to the savings-investment spending identity:
A) savings
Q34: In an open economy, GDP is $12
Q35: The government saves when it:
A) has a
Q36: In a closed economy government spending was
Q37: The savings-investment spending identity says that savings
Q38: National savings in a closed economy is
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