Discussion:
1- A very small country's gross domestic product is $12 million. If government expenditures amounted to $7.5 million and gross private domestic investment is $5.5 million, what would be the amount of net exports of goods and services?
2. Personal income amounted to $17 million lastyear. Personal current taxes amounted to $4 million and personal outlays for consumption expenditures, non-mortgage interest, and so forth were $12 million.
a. What was the amount of disposable personal income last year?
b. What was the amount of personal saving last year?
3. Assume personal income was $28 million last year. Personal outlays were $20 million and personal current taxes were $5 million What was the amount of disposable personal income last year?
What was the amount of personal saving last year Calculate personal saving as a percentage of disposable personal income.