Suppose private saving in a closed economy is $12b and investment is $10b
a. National saving must equal $12b.
b. Public saving must equal $2b.
c. The government budget surplus must equal $2b.
d. The government budget deficit must equal $2b.
d
Economics
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Economics
Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75
a. What was the percentage decline in nominal NNP from 1929 to1933? b. What was the percentage decline in real NNP from 1929 to 1933? Show your work.
Economics