In a closed economy, the values for GDP, consumption spending, investment spending, transfer payments, and taxes are as follows: Y = $11 trillion C = $8 trillion I = $2 trillion TR = $1 trillion T = $2 trillion Using the information above, what is the value of private saving and public saving? A. Private saving equals $8 trillion and public saving equals $2 trillion. B. Private saving equals $0 trillion and public saving equals $1 trillion. C. Private saving equals $2 trillion and public saving equals $8 trillion. D. Private saving equals $2 trillion and public saving equals $0 trillion.
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