Suppose That in a Closed Economy GDP Is Equal to $35,000

question 67

Multiple Choice

Suppose that in a closed economy GDP is equal to $35,000, consumption equal to $16,000, government purchases equal $4,500, and taxes equal $8,000. What are private saving, public saving, and national saving?

• A)$3,500, $11,000, and $14,500, respectively
• B)$19,000, $27,000, and $12,500, respectively
• C)$11,000, $3,500, and $14,500, respectively
• D)$27,000, $19,000, and $12,500, respectively

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Definitions:

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