In a closed economy, national saving can be expressed by the equation S = (Y - T - C) + (T - G).What does (Y - T - C) represent?
A)private saving
B)government tax revenue
C)public saving
D)investment

Question

Quizplus · Accepted Answer

(Y - T - C) represents private saving, which is the portion of income that households save after paying taxes and consuming goods and services.

In a Closed Economy, National Saving Can Be Expressed by the Equation