Valeria is a closed economy, where consumption totals $3 billion, tax payments are $300 million, government spending is $1 billion, and GDP is $5 billion. Private saving amounts to
A)$1.7 billion and Valeria's government runs a budget deficit.
B)$1.7 billion and Valeria's government runs a budget surplus.
C)$1 billion and Valeria's government runs a budget deficit.
D)$1 billion and Valeria's government runs a budget surplus

Question

​Valeria is a closed economy, where consumption totals $3 billion, tax payments are $300 million, government spending is $1 billion, and GDP is $5 billion. Private saving amounts to
A)$​1.7 billion and Valeria's government runs a budget deficit.
B)​$1.7 billion and Valeria's government runs a budget surplus.
C)$1 billion and Valeria's government runs a budget deficit.
D)​$1 billion and Valeria's government runs a budget surplus

Quizplus · Accepted Answer

The Answer of ​Valeria is a closed economy, where consumption totals $3 billion, tax payments are $300 million, government spending is $1 billion, and GDP is $5 billion. Private saving amounts to
A)$​1.7 billion and Valeria's government runs a budget deficit.
B)​$1.7 billion and Valeria's government runs a budget surplus.
C)$1 billion and Valeria's government runs a budget deficit.
D)​$1 billion and Valeria's government runs a budget surplus

​Valeria Is a Closed Economy, Where Consumption Totals $3 Billion

Valeria Is a Closed Economy, Where Consumption Totals $3 Billion