In a given year,a country's GDP = $9841,net factor payments from abroad = $889,taxes = $869,transfers received from the government = $296,interest payments on the government's debt = $103,consumption = $8148,and government purchases = $185.The country had private saving equal to
A)$285.
B)$3850.
C)$2397.
D)$2112.

Question

Quizplus · Accepted Answer

Private saving can be calculated using the formula: Private saving = GDP + Net Factor Payments from Abroad - Taxes + Transfers - Consumption - Government Purchases. Plugging in the given values: Private saving = $9841 + $889 - $869 + $296 - $8148 - $185 = $2112.

In a Given Year,a Country's GDP = $9841,net Factor Payments