You are given the following information about the country of Ecoland, whose currency is the turkey, and whose

official settlements balance is zero.

Variable Billions of turkies

Real GDP 50

Consumption expenditure 30

Government expenditure on goods and services 12

Investment 11

Exports 10

Government budget deficit 2

22) Refer to Fact 1. What is the amount of saving by the people of Ecoland?

A) 10 billion turkies

B) 8 billion turkies

C) 20 billion turkies

D) 12 billion turkies

E) 6 billion turkies

23) Suppose that a country's government expenditures are $500 billion, net taxes are $400 billion,

saving is $200 billion, and investment is $250 billion. The country has a government budget

A) surplus and a private sector deficit.

B) surplus and a private sector surplus.

C) deficit and a private sector surplus.

D) surplus and a private sector balance.

E) deficit and a private sector deficit.

24) The current account records

A) current government expenditure.

B) net exports, net interest income and net transfers.

C) current investment.

D) net value of Canadian investments and foreign investments.

E) current consumption expenditure.