The following table contains data for a hypothetical closed economy that uses the dollar as its currency.

Suppose GDP in this country is $925 million. Enter the amount for consumption.

Fill the blank above for Consumption(CC)

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

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.

Based on your calculations, the government is running a budget .......................... .

The following table contains data for a hypothetical closed economy that uses the dollar as its currency.

Suppose GDP in this country is $1,680 million. Enter the amount for consumption.

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

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.

Based on your calculations, the government is running a budget

Consider the long-run model of a closed economy with a marginal propensity to consume of 0.8.
Suppose the government cuts taxes by $100 billion while holding government purchases constant. What
happens to the following variables? Explain and calculate the amount of change for each variable.
a. Public saving (Sg):
b. Private saving (Sp):
c. National Saving (S):
d. Investment (I)

The owner's drawing account is closed to the Income Summary account in order to properly determine net income (or loss) for the period. *

True

False

Closing entries are made to close the permanent accounts. *

True

False

Closing revenue and expense accounts to the Income Summary account is an optional bookkeeping procedure. *

True

False

The owner's drawing account is a permanent account whose balance is carried forward to the next accounting period. *

True

False

To close net income to owner's capital, Income Summary is debited and Owner's Capital credited. *

True

False

In one closing entry, Owner's Drawing is credited and Income Summary is debited. *

True

False

The post-closing trial balance will contain only owner's equity statement accounts and balance sheet accounts. *

True

False

In a closed economy, the consumption function is:
c = 1.15 + 0.75(y - t) billions of 1992 dollars.
The tax function is:
t = 0.1y + 0.1 billions of 1992 dollars.
Planned investment is $1 billion and planned government expenditures
are $1.5 billion. Calculate:

Explain the adjustment process to the new equilibrium. (3 points)
How does the government’s expenditures on $0.25 billion worth of
goods and services get financed? (3 points)
Show that leakages from the circular flow equal injections into it. (3
points)
Go back to the initial equilibrium expenditure. The government plans
to increase expenditures on goods and services by $0.25 billion and to
finance its expenditure by an increase in autonomous taxes. What is
the new equilibrium expenditure? (5 points)

Give Examples (this is complex analysis):

(a.) First characterize open and closed sets in terms of their boundary points. Then give two examples of sets satisfying the given condition: one set that is bounded (meaning that there is some real number R > 0 such that |z| is greater than or equal to R for every z in S), and one that is not bounded. Give your answer in set builder notation. Finally, choose one of your two examples and prove that is neither open nor closed.

(b.) Give two examples of a function f: C→C that is continuous at z=0 but not differentiable at z=0 using the Cauchy-Riemann equations.

(c.) Find a cube root of -1, other than -1, in two ways: first, by using high school algebra (solve the equation z^3= -1 by factoring the polynomial z^3+1 as z+1 times a quadratic polynomial and then determine the roots of the quadratic polynomial) and second, by using the formula for computing nth roots of a complex number.

When 0.110 mol of carbon is burned in a closed vessel with 9.71 g of oxygen, how many grams of carbon dioxide can form?

Which reactant is in excess, and how many grams of it remain after the reaction?

Water is contained in a closed, rigid, 0.2 m³ tank at an initial pressure of 5 bar and a quality of 50%. Heat transfer occurs until the tank contains only saturated vapor. Determine a)the final mass of vapor in the tank, in kg,b) the final pressure, in bar.