Suppose that there is no trade and no government in a small economy. GDP is $25 trillion, and consumption spending is $18 trillion this year. What is the level of private saving?
A) $7 trillion
B) $18 trillion
C) $43 trillion
D) -$7 trillion
Correct Answer:
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Q51: Suppose that there is no trade and
Q52: National savings equals:
A) private savings plus consumption
Q53: In an open economy, savings CANNOT come
Q54: Suppose that there is no trade and
Q55: Capital inflow is:
A) the net inflow of
Q57: Net capital inflow equals:
A) national savings.
B) imports
Q58: The budget balance equals:
A) taxes minus government
Q59: In an open economy, GDP is $12
Q60: Use the following to answer questions:
Q61: The interest rate is 5% in the
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