In a closed economy taxes are $750 billion, government transfers are $400 billion, government expenditures are $500 billion, and investment is $400 billion. What are private saving, public saving and national saving?
Private saving is $550 billion, public saving is -$150 billion, and national saving is $400 billion.
Economics
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This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy was to engage in free trade, the good would:
A. not be imported or exported and only be produced domestically. B. no longer be produced domestically. C. be imported. D. be exported.
Economics
Which of the following is a public good?
A. Electricity B. Telephones C. National defense D. All of the statements associated with this question are public goods.
Economics