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The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $680 million.
The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $680 million. Enter the amount for consumption. Value National Income Account (Millions of dollars) Government Purchases (G) 200 Taxes minus Transfer Payments (T) 180 Consumption (C) l: Investment (I) 180 Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. Notimml Saving (3) || 4 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. Private Saving = $ million Public Saving = $ million Based on your calculations, the government is running a budget
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