(Table 1: Macroeconomic Data for Econia, 2018) Table 1 provides several statistics on Econia's economy in 2018. Use the data to determine the level of government saving in Econia during 2018.
$\begin{array}{l}
\text { Table 1: Macroeconomic Data for Econia, } 2018 \text { (billions of dollars) }\
\begin{array}{|c|c|c|c|c|c|c|c|}
\hline \text { GDP } & \mathrm{C} & \mathrm{I} & \mathrm{G} & \mathrm{Ex} & \mathrm{Im} & \mathrm{T} & \text { Depreciation } \
\hline \$ 900 & \$ 600 & \$ 200 & \$ 300 & \$ 100 & \$ 300 & \$ 250 & \$ 50 \
\hline
\end{array}
\end{array}$

Question

(Table 1: Macroeconomic Data for Econia, 2018) Table 1 provides several statistics on Econia's economy in 2018. Use the data to determine the level of government saving in Econia during 2018.
 $\begin{array}{l}
\text { Table 1: Macroeconomic Data for Econia, } 2018 \text { (billions of dollars) }\
\begin{array}{|c|c|c|c|c|c|c|c|}
\hline \text { GDP } & \mathrm{C} & \mathrm{I} & \mathrm{G} & \mathrm{Ex} & \mathrm{Im} & \mathrm{T} & \text { Depreciation } \
\hline \$ 900 & \$ 600 & \$ 200 & \$ 300 & \$ 100 & \$ 300 & \$ 250 & \$ 50 \
\hline
\end{array}
\end{array}$

Quizplus · Accepted Answer

Government saving is calculated as the difference between government tax revenues and government spending (not including transfer payments). In this case, government tax revenues ($T$) are \$250 billion, and government spending ($G$) is \$300 billion. Therefore, government saving is \$250 billion - \$300 billion = -\$50 billion.

(Table 1: Macroeconomic Data for Econia, 2018) Table 1 Provides