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The following table shows the prices and quantities consumed in the country known as College Canada. Suppose the base year is 2014. Please fill in
- The following table shows the prices and quantities consumed in the country known as College Canada. Suppose the base year is 2014. Please fill in the following table.
Year | Price of books | Quantity of books | Price of pencils | Quantity of pencils | Price of pens | Quantity of pens | CPI | Inflation rate |
2014 | $50 | 10 | $1 | 100 | $5 | 100 | n/a | |
2015 | $50 | 12 | $1 | 200 | $10 | 50 | ||
2016 | $60 | 12 | $1.5 | 250 | $20 | 20 |
- [10 points in total] Use the saving and investment identities from the National Income Accounts to answer the following questions. Suppose the following values are form the national income accounts of a country with a closed economy. ( All values are in billions.)
Y = $600
T = $100
C = $400
G = $120
- What is the value of saving and investment in this country? (4 points)
- What is the value of private saving? (3 points)
- What is the value of public saving? (3 points)
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