Question 11 Use the following information about the economy to answer the question: GDP is $2400, Consumption is $1500, Government spending is $500, and Net taxes are $400. What is private saving? 0 $500 0 $200 0 $1100 0 -$100 Question 12 2 pts Total production in the economy is described by the production function Y; = AL,(2KI)"t (2L,)1'\"'. Capital (K3) in use is equal to 25 units; labour (L,) in use is equal to 25 units; A, is equal to 2 units; and a = 0. If both capital and labour are increased to 50 units each, how much does the output increase? 0 from 50 to 100 units 0 from 50 units to 200 units 0 from 625 units to 2500 units 0 from 100 to 200 units Question 13 2 pts Total production in Victoria is described by the production function Y, = A, (K,)"(L,) -, where A, is total factor productivity, L, is labour, and K, is capital. Let A, be constant, and a = 0.5. Assuming that the growth rate of per capita capital stock is equal to 2%, the growth rate of per capita output is O 1% O 0.5% O 2% O 0%