Suppose GDP in this country is $900 million. Enter the amount for government purchases.

National Income Account Value(Millions of dollars)

Government Purchases (G) ______

Taxes minus Transfer Payments (T) 325

Consumption (C) 375

Investment (I) 275

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)= __________(Y-C-G or Y-T-G or G-T or Y-C)

=__________(C or G or I or Y)

=$_________million

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.

PrivateSaving =____________(C-Y or Y-C-T or T-G or Y-T-I)

=$__________million

PublicSaving=__________(C-T or T-G or Y-C-T or Y-T-I)

= $______ million

Based on your calculations, the government is running a budget _____________(Deficit or Surplus).