Question
Suppose that in a closed economy GDP is equal to 20,000, taxes are equal to 4,000, consumption is equal to 13,000, and government expenditures are
Suppose that in a closed economy GDP is equal to 20,000, taxes are equal to 4,000, consumption is equal to 13,000, and government expenditures are equal to 5,000. What is private saving, national saving, and investment?
Select one:
private saving is $3,000, national saving is $3,000, and total investment is $3,000
private saving is $7,000, national saving is 6,000, and total investment is $6,000
private saving is $3,000, national saving is $2,000, and total investment is $2,000
private saving is $2,000, national saving is 2,000, and total investment is $2,000
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