Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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,

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.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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Economics questions