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Homework answers / question archive / Complete the following table by using national income accounting identities to calculate national saving

Complete the following table by using national income accounting identities to calculate national saving

Economics

Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table.

 

National Saving (S) =  G-T, Y-T-G, Y-C-G, OR Y-C ?

 

 =     I, Y, C, OR G ?

 

= __________ million  ?

 

 

Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table.

 

Private Saving =  C-T, T-G, Y-T-I, OR Y-C-T?

 

=   million ?

 

 

Public Saving =  Y-T-I, C-T, Y-C-T, OR T-G?

 

  =  million ?

 

 

Based on your calculations, the government is running a budget:   Deficit or Surplus?

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As You have not provided the table So, I have used the following table. In case you have any doubt you can ask me through comment box.

National Income Account

Value

(Millions of dollars)
Government Purchases (GG) 200
Taxes minus Transfer Payments (TT) 260
Consumption (CC) 300
Investment (I)  

Suppose GDP in this country is $780 million. 

 

Investment (I) = GDP - C - G = 780-300-200 = $280 millions

Computation of National Savings:

National Savings = Y - C - G 

= 780-300-200

National Savings = $280 millions

 

Computation of Private Savings and Public Savings:

Private Savings = Y - C - T

= 780-300-260 

Private Savings = $220 millions

 

Public Savings = T - G

= 260-200

Public Savings = $60 millions

The government is running a budget SURPLUS.

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