In a closed economy, private saving, , is equal toA) I - (G - T).B) I + (G - T).C) I + (G + T).D) I - (G + T).E) I + (G - T) + C.
Question
Solution 1
In a closed economy, the equation for private saving is S = Y - T - C, where:
- S is private saving
- Y is national income
- T is taxes
- C is consumption
Also, in a closed economy, the national income Y is equal to the sum of consumption (C), investment (I), and government purchases (G). So, we c Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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