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4. Suppose GDP is $15 million, private saving is $3 million, consumption is $8 million, public saving is $2 million. Assume the economy is closed. (a) Calculate taxes minus transfer payments (T), government
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4. Suppose GDP is $15 million, private saving is $3 million, consumption is $8 million, public saving is $2 million. Assume the economy is closed.

(a) Calculate taxes minus transfer payments (T), government purchases (G), national saving (S), and investment (I).

(b) Is the government running a deficit or a surplus.? Explain

User Jason Young
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Answer in the file below .

User Thran
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