In the first quarter of 2021 (2021Q1) in the United States, private consumption increased by $334.7 billion compared to its level in the previous quarter, 2020Q4. (All figures are in terms of constant 2012 dollars.) At the same time government expenditure went up by $51.1 billion, total investment declined by $44.7 billion, and GDP rose by $293.2 billion.

Based on the fundamental macroeconomic identity, how much did the trade balance (net exports) change in 2021Q1 compared to 2020Q4?

a. Decreased by $137.3 billion.

b. Decreased by $47.9 billion.

c. Increased by $47.9 billion.

d. Increased by $137.3 billion.

e. Increased by $634.3 billion.

In the above question, if the budget deficit in 2021Q1 increased by $15.2 billion (in terms of constant 2012 dollars), by how much did private savings change?

a. Increased by $132.8 billion.

b. Increased by $77.4 billion.

c. Increased by $5.6 billion.

d. Decreased by $77.4 billion.

e. Decreased by $102.4 billion.