Use the following to answer questions:
Scenario: Closed Economy S = I
GDP is $12 trillion this year in a closed economy. Consumption is $8 trillion and government spending is $2 trillion. Taxes are $0.5 trillion.
-(Scenario: Closed Economy S = I) Look at the scenario Closed Economy S = I. How much is national saving?
A) $3.5 trillion
B) $3 trillion
C) $2.5 trillion
D) $2 trillion
Correct Answer:
Verified
Q7: In a simple closed economy, all investment
Q8: Which of the following is an example
Q9: Use the following to answer questions:
Scenario: Closed
Q10: Which of the following is considered to
Q11: Most human capital is provided by:
I. governments
Q14: Which of the following is (are) source(s)
Q16: Private savings equals:
A) income after taxes minus
Q16: Most physical capital, except for infrastructure, is
Q17: Which of the following do economists view
Q19: The budget balance equals:
A) taxes plus government
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