Question Completion Status: Suppose a closed economy that taxes are $5,000, national savings are $11,000, consumption is $50,000, and the government is running a budget deficit of $1,000. Then, private savings are $10,000 and GDP is $54,000. private savings are $10,000 and GDP is $58,000. private savings are $12,000 and GDP is $67,000. private savings are $12,000 and GDP is $72,000. QUESTION 11 Suppose an economy produces only cranberries and maple syrup. In 2020, 50 bushels of cranberries are sold at $20 per bushel and 100 bottles of maple syrup are sold at $8 a bottle. In 2016, the base year, the price of cranberries was $10 a bushel and the price of maple syrup are $15 a bottle. For 2020, O nominal GDP is $1800 and real GDP is $2000 and the GDP deflator is 90 nominal GDP is $1800 and real GDP is $2000 and the GDP deflator is 111.1. O nominal GDP is $2000 and real GDP is $1800 and the GDP deflator is 90. nominal GDP is $2000 and real GDP is $1800 and the GDP deflator is 111.1 QUESTION 12 Which of the following items is included in GDP? the sale of stocks and bonds the sale of used textbooks tuition fees charged by the University of Alabama Social security payments to seniors Click Save and Submit to save and submit. Click Save All Answers to save all answers