In a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows:

Y = $15 trillion

C = $10 trillion

I = $4 trillion

TR = $1 trillion

T = $4 trillion

Using the information above, what is the value of private saving and public saving?

A. Private saving equals $10 trillion and public saving equals $4 trillion.

B. Private saving equals $2 trillion and public saving equals $1trillion.

C. Private saving equals $2 trillion and public saving equals $2 trillion.

D. Private saving equals $4 trillion and public saving equals $10 trillion.

Answer rating: 100% (QA)

Private saving Y T TR C 15 4 1 10 2 trillion P... View the full answer