Question: Let Y = total income; C = consumption; G = government purchases; TX = taxes; TP = transfer payments. (Note: Net taxes are equal to

Let Y = total income; C = consumption; G = government purchases; TX = taxes; TP = transfer payments. (Note: Net taxes are equal to taxes minus transfer payments.).

Public saving is defined as:

Y + TP - C - TX.
Y + TP + C - TX
TX - G - TP.
Y +G -C
TX + G + TP.

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