._4 _. - a). Suppose GDP is $550 billion, government purchase is $130 billion, private saving is $70 billion, and investment is $35 billion. Assuming that this economy is closed. Calculate consumption, taxes, and national savings. b). Give one example that the unemployment rate overstates joblessness. Give one example that the unemployment rate understates joblessness. Make sure that you explain your answers. c). Suppose that the government is planning to lower consumption tax and increase income tax while keeping total tax revenue constant. What would happen in the market for loanable funds? l