(Table 2: Macroeconomic Data for Macroland) Table 2 provides 2018 macroeconomic data for Macroland. What is Macroland's private saving in 2018?
$\begin{array}{l}
\text { Table 2: Macroeconomic Data for Macroland, } 2018 \text { (billions of dollars) }\
\begin{array}{|c|c|c|c|c|c|c|}
\hline \text { C } \quad \quad \quad & \text { I } \quad \quad \quad & \text { G } \quad \quad & \text { EX } \quad \quad & \text { IM } \quad \quad & \text { T } & \text { Total income } \
\hline \$ 600 & \$ 250 & \$ 300 & \$ 200 & \$ 150 & \$ 280 & \$ 1,200 \
\hline
\end{array}
\end{array}$

Question

(Table 2: Macroeconomic Data for Macroland) Table 2 provides 2018 macroeconomic data for Macroland. What is Macroland's private saving in 2018?
 $\begin{array}{l}
\text { Table 2: Macroeconomic Data for Macroland, } 2018 \text { (billions of dollars) }\
\begin{array}{|c|c|c|c|c|c|c|}
\hline \text { C }  \quad  \quad  \quad & \text { I } \quad  \quad  \quad  & \text { G }  \quad  \quad & \text { EX }  \quad  \quad & \text { IM }  \quad  \quad & \text { T } & \text { Total income } \
\hline \$ 600 & \$ 250 & \$ 300 & \$ 200 & \$ 150 & \$ 280 & \$ 1,200 \
\hline
\end{array}
\end{array}$

Quizplus · Accepted Answer

Private saving is calculated as the difference between total income and the sum of consumption (C), government spending (G), and taxes (T), plus transfers (which are not explicitly mentioned, so we assume to be zero), minus investment (I). Using the data provided: Total income ($1,200 billion) - Consumption ($600 billion) - Government spending ($300 billion) - Taxes ($280 billion) + Investment ($250 billion) = $320 billion.

(Table 2: Macroeconomic Data for Macroland) Table 2 Provides 2018