Question

All question requires explanation, please.

1. Distinguish between private saving, public saving, and national saving.
2. Explain the impact of an increase in the government budget surplus on private saving, public saving, and national saving.
3. The followingdata are for the island nation of Atlantica (2018).

Q: Assume there is no external trade. Calculate private saving, public saving, and national saving?

	GDP	$11,000
	Taxes	$2,500
	Consumption expenditure	$7,000
	Government purchases	$3,000