3. You are given the following information about an economy: Gross private domestic investment-40; Government purchases of goods and services=30 ;Gross national product( GNP)-200;Current account balance=20 ;Taxes=60; Government transfer payments to the domestic private sector=25;Interest payment from the government to the domestic private sector=15( Assume all interest payment by the government go to domestic households.); Factor income received from rest of world-7; Factor payments made to rest of world-9; Find the following, assuming that government investment is zero: (a) Consumption (b)Net exports (c)GDP (d) Net factor payments from abroad (e) Private saving (f) Government saving (g) National saving

3. You are given the following information about an economy: Gross private domestic investment-40; Government purchases of goods and services=30 ;Gross national product( GNP)-200;Current account balance=20 ;Taxes=60; Government transfer payments to the domestic private sector=25;Interest payment from the government to the domestic private sector=15( Assume all interest payment by the government go to domestic households.); Factor income received from rest of world-7; Factor payments made to rest of world-9; Find the following, assuming that government investment is zero: (a) Consumption (b)Net exports (c)GDP (d) Net factor payments from abroad (e) Private saving (f) Government saving (g) National saving

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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