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Suppose GDP in this country is $1,680 million. Enter the amount for investment. National Income Account Value (Millions of dollars) Government Purchases (GG) 350 Taxes

Suppose GDP in this country is $1,680 million. Enter the amount for investment.

National Income Account Value
(Millions of dollars)
Government Purchases (GG) 350
Taxes minus Transfer Payments (TT) 420
Consumption (CC) 875
Investment (II) 455

Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table.

NationalSaving(S)NationalSaving(S)

== A

== B

million ?

A options are

Y-C-G

G-T

Y-C

Y-T-G

B Options are

C

Y

G

I

Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table.

PrivateSavingPrivateSaving

A ==

million ?

A options are

Y-C-T

Y-T-I

C-T

T-G

PublicSavingPublicSaving=A

million?

A options are

Y-C-T

Y-T-I

C-T

T-G

Based on your calculations, the government is running a budget .

OPTIONS ARE

SURPLUS

DEFICIT

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