You have some estimates of national accounts numbers for a closed economy

| November 24, 2016

Hey Rudra,

Can you help me with this problem?

You have some estimates of national accounts numbers for a closed economy for the coming year. Under one set of expectations, government purchases will be $30 billion, transfer payments will be $10 billion, and taxes will be $45 billion. Under another set of expectations, GDP will be $200 billion, taxes will be $50 billion, transfer payments will be $20 billion, consumption will be $120 million, and investment will be $40 billion. Based on these numbers in the first case there should be a

$15 billion surplus, and in the second case a $10 billion surplus.

$15 billion surplus, and in the second case a $30 billion deficit.

$5 billion surplus, and in the second case a $10 billion deficit.

$5 billion surplus, and in the second case a $30 billion deficit.

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