Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion,government purchases equal $3 billon and tax revenue equals $1 billion Use this informationto answer the following questions ( a What is private savings equal to in this economy b What is public savings equal ...

a Private savings is equal to GDP minus consumption and government purchases Thus Private savings 20 ...

Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion,government purchases equal $3

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Consider a closed economy in which GDP equals $20 billion, consumption equals $13 billion,government purchases equal $3 billon and tax revenue equals $1 billion. Use this informationto answer the following questions: (
a. What is private savings equal to in this economy? b. What is public savings equal to in this economy? c. How would the level of public savings impact the supply of loanable funds? d. What is national saving equal to in this economy? e. What are net exports equal to in this economy? f. What is investment equal to in this economy?