Suppose the following information describes the economy: $$\begin{array} { l | r }
\hline \text { Consuruption } & 8,000 \
\hline \text { Irvestruent } & 1,000 \
\hline \text { Goverument purchases } & 1,000 \
\hline \text { Net exports } & \mathbf { 0 } \
\hline \text { Goverment trarsfers ard interest paymerits } & 500 \
\hline \text { Goverment tax collections } & 1700
\end{array}$$
Private saving equals ________; public saving equals ________; national saving equals ________.

Question

Suppose the following information describes the economy: $$\begin{array} { l | r } 
\hline \text { Consuruption } & 8,000 \
\hline \text { Irvestruent } & 1,000 \
\hline \text { Goverument purchases } & 1,000 \
\hline \text { Net exports } & \mathbf { 0 } \
\hline \text { Goverment trarsfers ard interest paymerits } & 500 \
\hline \text { Goverment tax collections } & 1700
\end{array}$$  
Private saving equals ________; public saving equals ________; national saving equals ________.

Quizplus · Accepted Answer

Private saving is calculated as income minus consumption and taxes plus government transfers. Here, income is the sum of consumption, investment, and government purchases (8000 + 1000 + 1000 = 10,000). So, private saving = 10,000 - 8,000 - 1,700 + 500 = 800. Public saving is government tax collections minus government purchases and transfers (1700 - 1000 - 500 = 200). National saving is the sum of private and public saving, which equals 800 + 200 = 1,000.

Suppose the Following Information Describes the Economy Private Saving Equals ________; Public Saving Equals ________; National Saving

Suppose the Following Information Describes the Economy Private Saving Equals ; Public Saving Equals ; National Saving