Once more, please consider a closed economy that has total output of $1.2 million ($1,200,000). Its consumption is 0.7 million ($700,000) and the government collects $0.15 million ($150,000) in taxes. The goverment spends a total of 0.2 million ($200,000) on various types of spending, but the economy has no transfer payments. This economy's total savings is $ million dollars. Carefully follow all numeric directions. Notice that the answer is in terms of millions of dollars, so if your answer is 99 million (99,000,000) enter only 99 in the blank.For the next two questions, consider a closed economy that has total output of $1.2 million ($1,200,000). Its consumption is 0.7 million ($700,000) and the government collects $0.15 million ($150,000) in taxes. The goverment spends a total of 0.2 million ($200,000) on various types of spending, but the economy has no transfer payments. This economy's private savings is $ million dollars. Carefully follow all numeric directions. Notice that the answer is in terms of millions of dollars, so if your answer is 99 million (99,000,000) enter only 99 in the blank