Multiple Choice
Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500, consumption equals 7,000, and government purchases equal 3,000. What are private saving and public saving?
A) 1,500 and -500, respectively
B) 1,500 and 500, respectively
C) 1,000 and -500, respectively
D) 1,000 and 500, respectively
Correct Answer:
Verified
Correct Answer:
Verified
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