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For the next two questions, consider a closed economy that has total output of $1.2 million ($1,200,000). lts 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. l i 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. 3 i Question 13 3 pts Once more, please consider a closed economy that has total output of $1.2 million ($1,200,000). lts 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. 1 This economy'rltotal savings is $11---.smw million dollars. ' Carefully follow all numeric directions. Notice that the answer is in terms of millions of dollars, so if j your answer is 99 million (99,000,000) enter only 99 in the blank. } [3 Question 14 3 pts A certain economy has velocity of 2 with total nominal GDP (output) of $300. While velocity is constant, the price level is increasing at a rate of 4 percent and the money supply grows at a rate of l 5 percent