Answered

In a closed economy, public saving is the amount of

A. spending that the government undertakes in excess of the taxes it collects.
B. tax revenue that the government has left after paying for its spending.
C. income that households have left after paying for taxes and consumption.
D. income that businesses have left after paying for the factors of production.



Answer :

GinnyAnswer

Final answer:

Public saving in a closed economy is the money the government has left after covering its spending, calculated as tax revenue minus government spending.


Explanation:

Public saving in a closed economy refers to the amount of money that the government has left after paying for its spending. It is calculated as tax revenue minus government spending. When the government runs a surplus, it adds to public saving; if it runs a deficit, it reduces public saving.


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