The table below shows levels of employment output consumptio

The table below shows levels of employment, output, consumption, and saving for a private closed econ omy Erephapmetna Minions naiit ioain, Batils ut,Consumpt Billions 240 Billions 244 260 276 292 308 324 340 356 372 45 280 300 320 340 50 16 65 70 75 80 24 400 wèrs as whole n Instructions: Enter your ans front of those numbers a. Using the consumption and saving data above and assuming investment is $i6 bilion, what are saving and planned investment at the $380 billion level of domestic output? Saving a billion

Solution

ANSWER:

1) Saving is $24 billion (as seen from the graph when domestic output is $380 billion) and planned investment is $16 billion (given in the question)